Shopify (SHOP): Preparing for a Long-Term Entry at $49.62

14 May 2024

Considering Shopify, the situation is unfolding as we anticipated. We expected the beginning of 2024 to potentially mark the peak for Shopify with the completion of Wave (1), indicating a Wave 2 correction. This correction is likely to find support between the 63.8% and 78.6% retracement levels.

Currently, the pattern is showing lower lows and lower highs, suggesting that further price declines may occur, potentially closing existing gaps. Our strategy is still developing, but we plan to place a long-term entry at $49.62 with a stop-loss at $31.

13 Kas 2024

İşlem aktif

And here we go. We are 130% up since our communicated entry. Just have a look at our analysis months ago and at the chart now.