Shopify Inc. Technical Analysis, Forecast and Trade Signals

Shopify Inc. Technical Analysis, Forecast and Trade Signals

SHOPIFY INC. Technical Analysis

SHOPIFY INC. Technical Analysis: Weekly Chart

Shopify Inc. Technical Analysis

In the weekly charts, SHOPIFY INC. was trading in a down channel. SHOPIFY INC. is currently trading below all SMA.

RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 317.99 & the resistance level is at 396.70.

SHOPIFY INC. was trading in the down channel before there is breakout upside.

SHOPIFY INC. Technical Analysis: Daily Chart

Shopify Inc. Technical Analysis

In the daily charts, SHOPIFY INC. is trading in an up channel. SHOPIFY INC. is currently trading below all SMA.

RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 317.85 & the resistance level is at 370.48.

SHOPIFY INC. will trade in the up channel until there is trend reversal.   

How to Trade SHOPIFY INC. this Week:

SHOPIFY INC. will follow the downtrend until their trend reversal. So, remain bearish on SHOPIFY INC..

TRADE SUGGESTION- SELL AT 348.38, TAKE PROFIT AT 317.85 AND STOP LOSS AT 370.48

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