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

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

  1. gowiththeflow

    gowiththeflow Senior Investor

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    Wow there is no stoppping this share even in these difficult market conditions. It has just broken out of the uptrend on the upside!
     
  2. longtermbull

    longtermbull Administrator Staff Member

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    Funny enough, when these share turn I think we might see a lot of profit takers - might be an interesting short term short?
     
  3. gowiththeflow

    gowiththeflow Senior Investor

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    How does the rating compare to competitors - is there any further upside left in the short term?
     
  4. longtermbull

    longtermbull Administrator Staff Member

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    Nothing goes up in a straight line. While I often think shares which pull back so far after a long rally should be left alone, I think this one is different. Let the shares settle lower down and then look to buy when they start moving up again - as I think they will. Shopify is a leader in a growing area of the market.
     
  5. Buyonthedips

    Buyonthedips Senior Investor

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    Do not underestimate the power of this company, I believe it will be back at some point. It is an integral part of the e-commerce industry, an industry which continues to grow.
     
  6. longtermbull

    longtermbull Administrator Staff Member

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    Will the shares form come kind of base around the $300 level? A fall through would not be a good sign.
     
  7. Chartman

    Chartman Senior Investor

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    Interesting consolidation around the $300 level - looking for another run at the recent highs? There appears to be some strong underlying strength with this one.
     
  8. longtermbull

    longtermbull Administrator Staff Member

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    That was quite a bounce off the $300 level with $350 the next resistance level. As the e-commerce industry continues to grow, Shopify should be able to consolidate its position going forward. I think there is a lot more to come from this company.
     
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