$SHOP Shopify doubble top active?
If this double top really plays out i would only buy in the showed zone. Around $340.
The 340 level was multipli support and resistance zone, it would also have the 0.5 retracement level of fib of the run from $280 to $405.
If the double top does not hold, and it breaks (and retests) the dashed line we could aim to $500 depends on the market.
Earnings Q4 will clarify which direction we could go the further months.
Still a very volatile stock.
If this double top really plays out i would only buy in the showed zone. Around $340.
The 340 level was multipli support and resistance zone, it would also have the 0.5 retracement level of fib of the run from $280 to $405.
If the double top does not hold, and it breaks (and retests) the dashed line we could aim to $500 depends on the market.
Earnings Q4 will clarify which direction we could go the further months.
Still a very volatile stock.