Bullish vs. Bearish (9 opinions)
Social Sentiment 0.28
SHOP Forecast and Technical Stock Analysis
Buy candidate since 2019-10-14 PDF
Shopify Inc gained 4.57% in the last trading day ( Monday, 14th Oct 2019 ), rising from $329.26 to $344.30 , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 5.28% from a day low at $328.67 to a day high of $346.03. The price has risen in 7 of the last 10 days and is up by 10.47% over the past 2 weeks. Volume fell in the last day by -0.15 million shares and in total, 2.12 million shares bought and sold for approximately $730.26 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the SHOP stock price was $346.03 and low was $286.07.
- 90 day high was $409.61 and low was $286.07.
- 52 week high for Shopify Inc - $409.61 and low - $117.64.
Shopify Inc lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.79% during the next 3 months and, with 90% probability hold a price between $280.96 and $383.76 at the end of this period.
Only positive signals in the chart today. Shopify Inc holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $325.21 and $342.08. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday October 08, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 73 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Shopify Inc finds support from accumulated volume at $328.82.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $17.36 (5.28%) between high and low. For the last week, the stock has had daily average volatility of 4.31%.
Our recommended stop-loss: $332.57 (-3.41%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 4 days ago.)
4.31 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
|SHOP $344.30 ($15.04 4.57%)|
SHOP is up $15.04 today, but where's it headed in 2019?
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Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!