Shopify Inc. (shop) Which Way Will It Turn?

Discussion in 'Investment Charts' started by longtermbull, Aug 1, 2017.

  1. longtermbull

    longtermbull Administrator Staff Member

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    The Shopify share price seems to be approaching a crticial point - will it go higher or will it fall through the support line? Price $101.18 @ 1 August 2017

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    Aug-01-17 11:29AM Shopify reports 2Q loss Associated Press +10.04%
    Aug-01-17 09:45AM Stocks Bolt Higher; Goldman Tops Dow, Cognex, Shopify Break Out Investor's Business Daily
    Aug-01-17 09:07AM Shopify Inc (US) (SHOP) Stock Pushes Past $100 After Earnings InvestorPlace
    Aug-01-17 08:14AM Here's How Shopify Scored Double-Digit Gains On Earnings Investor's Business Daily
    Aug-01-17 07:41AM Shopify Blows Away Revenue Estimates for Ninth Quarter in a Row Bloomberg
    Aug-01-17 07:40AM Shopify posts smaller-than-expected 2nd-qtr loss Reuters
     
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I took half of my profits off the table early today just south of $105.
     
  3. longtermbull

    longtermbull Administrator Staff Member

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    Looks like this may run out steam now better than expected results are out of the way?

    Price $98.35 @ 2 August 2017
     
  4. gowiththeflow

    gowiththeflow Senior Investor

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    Going to test support line very soon - looks like the profit takers have control for now?
     
  5. longtermbull

    longtermbull Administrator Staff Member

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    Seems to be support around the $85 level?
     
  6. longtermbull

    longtermbull Administrator Staff Member

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    Turn our backs for a moment and this one is flying - chart breakout!
     
  7. MikiStocks

    MikiStocks Member

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    Seeing how it rose from August 14th I'd say the correction down to 102$+- on August 29th could've been healthier if was more towards the 100$. Either way, the breakout looks good at the moment but I stay suspicious.
    I rather see it go up a few bucks, then checking the upper trend we're all looking at, only then coming back up.
     
  8. longtermbull

    longtermbull Administrator Staff Member

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    There will be a period of consolidation when the uptrend takes a breather - maybe that is the time to get in. Or is it worth picking up a part holding now and hedging your bets?
     
  9. gowiththeflow

    gowiththeflow Senior Investor

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    Seems to have broken into higher ground.

    While the graph looks interesting, in terms movement over the last 6 months it hasn't exactly been off the scale, good but not massive. Therefore maybe there is some decent upside potential?
     
  10. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Still holding a small position at a nice profit.
     
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