SHOPIFY INC. Technical Analysis: Weekly Chart
In the weekly charts, SHOPIFY INC. was trading in the up channel.
It is trading below all SMA.
The immediate support is 592.00 & the resistance level is at 835.88.
SHOPIFY INC. was trading in the up channel before the breakout.
SHOPIFY INC. Technical Analysis: Daily Chart
In the daily charts, SHOPIFY INC. is trading in the down channel.
It is trading below all SMA.
The immediate support is 623.78 & the resistance level is 811.33.
SHOPIFY INC. is trading in the down channel until there is a 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 693.48, TAKE PROFIT AT 623.78 AND STOP LOSS AT 702.88
