Long
$SHOP Shopify Holding Trendline - Reversal Underway
SHOP Shopify appears to be holding the longer term trend line after bouncing off support around $151.00 yesterday. Both RSI and MFI are beginning to reverse from oversold territory. Expecting further price recovery in the near term - will monitor for a break of the 50d ema for confirmation. Short term target - $162.50 (gapfill)
Medium term target - $175.00
Stop loss - $149.50
Note: Observation/opinion, not investment advice.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.