Shopify (SHOP.NYSE)

Shopify Inc (SHOP.NYSE) | 14/01/2018 | 1 Year, Daily Chart
$180.00
The resistance line, where the stock
$170.00
Low base breakout
$160.00
after sell off
$150.00
$140.00
$130.00
$120.00
Can be bought off
the green bars as strength
$110.00
Support line to be used as a buy zone
for mean reversion players
$100.00
16/01/2018
13/02/2018
14/03/2018
12/04/2018
10/05/2018
8/06/2018
9/07/2018
6/08/2018
4/09/2018
2/10/2018
30/10/2018
28/11/2018
28/12/2018
Technical Summary: The five year chart shows one of the stock market darlings over the last 5 years. However the
‘picture’ has changed quite drastically over the last year with the stock trading within a tight and volatile trading
150
5 Year Chart
range. For this reason it is perhaps best avoided for trend followers. It might be best to leave this one to traders
100
that are looking at it from a mean reversion basis. In which case the stock is best bought when it sells off and
shows strength off the lows. Once the stock seems to be getting overextended it might be time to sell.
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