SHOPIFY - Daily - Technical analysis published on 12/07/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 65.01 USD
My targets
82.87 USD (+16.26%)
87.58 USD (+22.87%)
My analysis
The bullish trend is currently very strong on SHOPIFY. As long as the price remains above the support at 65.01 USD, you could try to benefit from the boom. The first bullish objective is located at 82.87 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 87.58 USD as an objective. Crossing it would then enable buyers to target 104.15 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.3
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This analysis was given by hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SHOPIFY rating 71.28 USD. The price has increased by +0.20% since the last closing and was between 70.04 USD and 71.64 USD. This implies that the price is at +1.77% from its lowest and at -0.50% from its highest.70.04
71.64
71.28
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SHOPIFY:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of SHOPIFY in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 53.66 | 61.67 | 70.37 | 71.28 | 87.58 | 104.15 | 147.40 |
| Change (%) | -24.72% | -13.48% | -1.28% | - | +22.87% | +46.11% | +106.79% |
| Change | -17.62 | -9.61 | -0.91 | - | +16.30 | +32.87 | +76.12 |
| Level | Intermediate | Major | Major | - | Minor | Minor | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.97 | 69.02 | 70.08 | 72.13 | 73.19 | 75.24 | 76.30 |
| Camarilla | 70.29 | 70.57 | 70.86 | 71.14 | 71.43 | 71.71 | 72.00 |
| Woodie | 66.48 | 68.77 | 69.59 | 71.88 | 72.70 | 74.99 | 75.81 |
| Fibonacci | 69.02 | 70.21 | 70.94 | 72.13 | 73.32 | 74.05 | 75.24 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 67.63 | 69.35 | 71.61 | 73.33 | 75.59 | 77.31 | 79.57 |
| Camarilla | 72.77 | 73.13 | 73.50 | 73.86 | 74.23 | 74.59 | 74.96 |
| Woodie | 67.89 | 69.49 | 71.87 | 73.47 | 75.85 | 77.45 | 79.83 |
| Fibonacci | 69.35 | 70.87 | 71.81 | 73.33 | 74.85 | 75.79 | 77.31 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.07 | 37.11 | 54.97 | 65.01 | 82.87 | 92.91 | 110.77 |
| Camarilla | 65.15 | 67.71 | 70.26 | 72.82 | 75.38 | 77.94 | 80.49 |
| Woodie | 30.97 | 39.07 | 58.87 | 66.97 | 86.77 | 94.87 | 114.67 |
| Fibonacci | 37.11 | 47.77 | 54.36 | 65.01 | 75.67 | 82.26 | 92.91 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 59.81 | |
| MACD (12,26,9): | 3.8300 | |
| Directional Movement: | 19.26 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 74.27 | |
| Parabolic SAR (0,02-0,02-0,2): | 75.47 | |
| Elder Ray (13): | -0.45 | |
| Super Trend (3,10): | 66.67 | |
| Zig ZAG (10): | 71.01 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 64.22 | |
| TEMA (21): | 75.48 | |
| Williams %R (14): | -49.94 | |
| Chande Momentum Oscillator (20): | 1.68 | |
| Repulse (5,40,3): | 0.8100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 1.0600 | |
| Courbe Coppock: | 21.97 |
| MA7: | 72.81 | |
| MA20: | 69.52 | |
| MA50: | 59.73 | |
| MA100: | 59.78 | |
| MAexp7: | 72.21 | |
| MAexp20: | 68.99 | |
| MAexp50: | 63.57 | |
| MAexp100: | 60.58 | |
| Price / MA7: | -2.10% | |
| Price / MA20: | +2.53% | |
| Price / MA50: | +19.34% | |
| Price / MA100: | +19.24% | |
| Price / MAexp7: | -1.29% | |
| Price / MAexp20: | +3.32% | |
| Price / MAexp50: | +12.13% | |
| Price / MAexp100: | +17.66% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The latest news and videos published on SHOPIFY at the time of the analysis were as follows:
- Shopify Black Friday (2023): Review of Early Website Builder Offers Reported by Save Bubble
- Thinking about buying stock in Nio Inc, Walmart, Shopify, Cardio Diagnostics Holdings, or Maia Biotechnology?
- Shopify Black Friday (2023): Review of Early Offers Researched by Saver Trends
- Thinking about trading options or stock in Palantir Technologies, Macy's, Intellia Therapeutics, Shopify, or Brinker International?
- IntelligenceBank Introduces Shopify Connection to Make Ecommerce Media Management Easy
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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