RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of SHOP.TO
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Green day on Wednesday for Shopify Inc. Class A stock after gaining 0.150%
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 13, 2024 Gain 0.69% PDF

The Shopify Inc. Class A stock price gained 0.150% on the last trading day (Wednesday, 27th Mar 2024), rising from $106.54 to $106.70. During the last trading day the stock fluctuated 2.59% from a day low at $105.28 to a day high of $108.00. The price has risen in 6 of the last 10 days and is up by 0.69% over the past 2 weeks. Volume fell on the last day by -224 thousand shares and in total, 2 million shares were bought and sold for approximately $233.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shopify Inc. Class A stock with a 90% probability to be traded between $98.94 and $120.80 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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SHOP.TO Signals & Forecast

Mostly positive signals in the chart today. The Shopify Inc. Class A stock holds a sell 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 giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $107.06. On a fall, the stock will find some support from the long-term average at approximately $106.42. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 6.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Support, Risk & Stop-loss for Shopify Inc. Class A stock

Shopify Inc. Class A finds support from accumulated volume at $104.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $2.72 (2.59%) between high and low. For the last week, the stock has had daily average volatility of 2.88%.

Our recommended stop-loss: $101.71 (-4.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (SHOP.TO) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Shopify Inc. Class A to open at $106.66, and during the day (based on 14 day Average True Range), to move between $103.09 and $110.31, which gives a possible trading interval of +/-$3.61 (+/-3.38%) up or down from last closing price. If Shopify Inc. Class A takes out the full calculated possible swing range there will be an estimated 6.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $104.85 (1.73%) than the resistance at $109.27 (2.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shopify Inc. Class A stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Shopify Inc. Class A stock to perform well in the short-term period.

Current score: 1.777 Buy Candidate Unchanged

Predicted Opening Price for Shopify Inc. Class A of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$106.66 ( 0.0391%) $106.70

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for SHOP.TO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 109.38 2.51 %
R2 108.34 1.54 %
R1 107.70 0.94 %
Current price: 106.70
Support S1 105.62 -1.01 %
S2 104.97 -1.62 %
S3 103.93 -2.59 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 119.89 12.36 %
R2 113.03 5.93 %
R1 109.27 2.41 %
Current price 106.70
Support S1 104.85 -1.73%
S2 104.48 -2.08%
S3 103.69 -2.82%

FAQ

What is the symbol for Shopify Inc. Class A Stock and on which exchange is it traded?
The symbol for Shopify Inc. Class A is SHOP.TO and it is traded on the TSX (Toronto Stock Exchange).

Should I buy or sell Shopify Inc. Class A Stock?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Shopify Inc. Class A stock to perform well in the short-term period.

How to buy Shopify Inc. Class A Stock?
Shopify Inc. Class A Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Shopify Inc. Class A Stock.

What's the current price of Shopify Inc. Class A Stock?
As of the end of day on the 2024-03-27, the price of an Shopify Inc. Class A (SHOP.TO) share was $106.70.

What is the 52-week high and low for Shopify Inc. Class A Stock?
The 52-week high for Shopify Inc. Class A Stock is $123.20 and the 52-week low is $58.76.

What is the market capitalization of Shopify Inc. Class A Stock?
As of the 2024-03-27, the market capitalization of Shopify Inc. Class A is 137.252B.

When is the next earnings date for Shopify Inc. Class A?
The upcoming earnings date for Shopify Inc. Class A is May 02, 2024.
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About Shopify Inc. Class A

Shopify. Class A Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marke... SHOP.TO Profile

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