SHOP stock forecast Shopify Inc

SHOP stock forecast

Friday February 21, 2020 Change -2.79% Price $520.66
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SHOP Stock Forecast and Technical Analysis

Buy or Hold candidate since 2019-11-25 Gain 64.21% PDF

Shopify Inc fell by -2.79% in the last day ( Friday, 21st Feb 2020 ) from $535.58 to $520.66 and has now fallen 3 days in a row. During the day the stock fluctuated 4.49% from a day low at $511.61 to a day high of $534.60. The price has risen in 7 of the last 10 days and is up by 10.08% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.53 million shares and in total 1.92 million shares bought and sold for approximately $1 000.08 million.

SHOP Stock Price Summary

  • 30 day high of the SHOP stock price was $593.89 and low was $436.74.
  • 90 day high was $593.89 and low was $311.53.
  • 52 week high for Shopify Inc - $593.89 and low - $179.36.

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SHOP Trend

Shopify Inc lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 57.12% during the next 3 months and, with 90% probability hold a price between $795.50 and $863.96 at the end of this period.

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SHOP Signals

Shopify Inc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $533.04. On a fall, the stock will find some support from the long-term average at approximately $469.98. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday February 19, 2020, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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SHOP Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

RSI14 is 71 and the stock is currently not being overbought or oversold

* uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.

SHOP Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $492.75 and $396.94.

There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shopify Inc finds support just below today's level at $492.75. If this is broken, then the next support from accumulated volume will be at $396.94 and $393.63.

Support: $492.75 Price: $520.66 Resistance: $531.25

SHOP Stock Risk

This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $22.99 between high and low, or 4.49%. For the last week, the stock has had a daily average volatility of 4.23%.

Our recommended stop-loss: $490.49 (-5.79%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 2 day(s) ago.)

4.23 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Buy Candidate Upgraded

SHOP Stock Evaluation

Several short-term signals, along with a general good trend, are positive and 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.

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featured in The Global Fintech Index 2020 as the top Fintech company of the country.

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