$SHOP Nears Key Test Amid Parabolic Squeeze
SHOP shares bottomed in March in the key $300 area and have since nearly doubled in a wild short squeeze. At 30x forward sales, the stock is officially in "absurd" territory. But traffic is increasing during the lockdown. That said, it's merchants are doing worse, so the fade could be warranted here soon. Perhaps following an overshoot of $600.
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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.