SHOPIFY INC - CLASS A (SHOP) Stock Technical Analysis
NYSE:SHOP - New York Stock Exchange, Inc. - CA82509L1076 - Common Stock
Taking everything into account, SHOP scores 6 out of 10 in our technical rating. In the last year, SHOP was one of the better performers, but we do observe some doubts in the very recent evolution.
SHOP is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
SHOP is part of the IT Services industry. There are 82 other stocks in this industry. SHOP outperforms 72% of them.
SHOP is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so SHOP is lagging the market slightly.
SHOP has an average volume of 8319260 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that SHOP is one of the better performing stocks in the market, outperforming 87% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is only medium, SHOP does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 105.31, a Stop Loss order could be placed below this zone.
More info and screens
58.86
120.68
We found 2 important support areas.
- A support zone ranging from 100.39 to 105.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @59.45 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- Resistance @110.30 from a trend line in the daily time frame.
- A resistance zone ranging from 118.37 to 119.49. This zone is formed by a combination of multiple trend lines in multiple time frames.
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS87.46
Mansfield2.16
10 Day High115.37
10 Day Low99.05
20 Day High115.37
20 Day Low99.05
52 Week High120.72
52 Week Low48.56
Performance
1 Week4.44%
2 Weeks-2.72%
1 Month-3.12%
3 Month34.45%
6 Month77.31%
12 Month30.33%
2 Year115.71%
3 Year10.22%
5 Year128.24%
10 YearN/A
15 YearN/A
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Technical Indicators
MACD(12,26,9)-0.59
RSI(14)49.37
LBB99.52
UBB112.33
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 110.31 | 100.38 | 9.93 (9.00%) | 11.11% |
| An entry @110.31. This is a Buy Stop order right above the resistance zone. | An exit @100.38. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 9.93 points, which is 9.00%. | For a 1.00% total portfolio risk, you can invest 11.11% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
SHOPIFY INC - CLASS A
NYSE:SHOP (1/21/2025, 8:26:34 PM)
After market: 106.322 +0.04 (+0.04%)106.28
+2.93 (+2.84%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg2.84%
1 Week4.44%
2 Weeks-2.72%
1 Month-3.12%
3 Month34.45%
6 Month77.31%
12 Month30.33%
2 Year115.71%
3 Year10.22%
5 Year128.24%
10 YearN/A
15 YearN/A
Volatility
ATR(14)3.96
ATR(20)%3.59%
ATR Inc-19.7%
Range Today3.03
ADR(20)3.32
ADR(20)%3.13%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS87.46
Mansfield2.16
10 Day High115.37
10 Day Low99.05
20 Day High115.37
20 Day Low99.05
52 Week High120.72
52 Week Low48.56
CS1 End105.31
CR1 Start110.3
Volume & EV
DER(3)-1.79%
DER(5)-0.54%
Volume5.07M
Volume Incr-7.55%
Vol(5)5.22M
Vol(50)8.32M