SHOPIFY - 15 min. - Technical analysis published on 06/05/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 60.19 USD
My targets
61.18 USD (+0.82%)
61.67 USD (+1.64%)
My analysis
SHOPIFY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 60.19 USD. The next resistance located at 61.18 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 61.67 USD. After this resistance, buyers could then target 62.66 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
9.1
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This analysis was given by m6rga3. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SHOPIFY rating 60.68 USD. The price has increased by +1.64% since the last closing and was between 59.21 USD and 60.69 USD. This implies that the price is at +2.48% from its lowest and at -0.02% from its highest.59.21
60.69
60.68
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SHOPIFY:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this SHOPIFY chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 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 a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : 15 minutes
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 54.91 | 56.98 | 58.91 | 60.68 | 63.80 | 70.37 | 74.48 |
| Change (%) | -9.51% | -6.10% | -2.92% | - | +5.14% | +15.97% | +22.74% |
| Change | -5.77 | -3.70 | -1.77 | - | +3.12 | +9.69 | +13.80 |
| Level | Intermediate | Intermediate | Intermediate | - | Minor | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 58.22 | 58.71 | 59.70 | 60.19 | 61.18 | 61.67 | 62.66 |
| Camarilla | 60.27 | 60.41 | 60.54 | 60.68 | 60.82 | 60.95 | 61.09 |
| Woodie | 58.46 | 58.84 | 59.94 | 60.32 | 61.42 | 61.80 | 62.90 |
| Fibonacci | 58.71 | 59.28 | 59.63 | 60.19 | 60.76 | 61.11 | 61.67 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 54.31 | 55.31 | 57.23 | 58.23 | 60.15 | 61.15 | 63.07 |
| Camarilla | 58.35 | 58.62 | 58.88 | 59.15 | 59.42 | 59.69 | 59.95 |
| Woodie | 54.77 | 55.54 | 57.69 | 58.46 | 60.61 | 61.38 | 63.53 |
| Fibonacci | 55.31 | 56.43 | 57.12 | 58.23 | 59.35 | 60.04 | 61.15 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.52 | 42.92 | 51.03 | 64.43 | 72.54 | 85.94 | 94.05 |
| Camarilla | 53.24 | 55.21 | 57.18 | 59.15 | 61.12 | 63.09 | 65.07 |
| Woodie | 26.89 | 41.60 | 48.40 | 63.11 | 69.91 | 84.62 | 91.42 |
| Fibonacci | 42.92 | 51.13 | 56.21 | 64.43 | 72.64 | 77.72 | 85.94 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 76.11 | |
| MACD (12,26,9): | 0.3000 | |
| Directional Movement: | 22.50 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 60.39 | |
| Parabolic SAR (0,02-0,02-0,2): | 60.16 | |
| Elder Ray (13): | 0.32 | |
| Super Trend (3,10): | 59.78 | |
| Zig ZAG (10): | 60.68 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 97.12 | |
| TEMA (21): | 60.50 | |
| Williams %R (14): | -0.46 | |
| Chande Momentum Oscillator (20): | 0.89 | |
| Repulse (5,40,3): | 1.0700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0600 | |
| Courbe Coppock: | 2.47 |
| MA7: | 58.80 | |
| MA20: | 59.85 | |
| MA50: | 67.92 | |
| MA100: | 73.70 | |
| MAexp7: | 60.37 | |
| MAexp20: | 60.02 | |
| MAexp50: | 59.57 | |
| MAexp100: | 59.13 | |
| Price / MA7: | +3.20% | |
| Price / MA20: | +1.39% | |
| Price / MA50: | -10.66% | |
| Price / MA100: | -17.67% | |
| Price / MAexp7: | +0.51% | |
| Price / MAexp20: | +1.10% | |
| Price / MAexp50: | +1.86% | |
| Price / MAexp100: | +2.62% |
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:
-
What makes a successful e-commerce business? | Harley Finkelstein, Shopify | The Big Question
- Avalara Expands Partnership with Shopify to Enable Global Tax Compliance for Merchants
- Cognizant Teams with Shopify and Google Cloud To Transform Enterprise Retail
- Cognizant Teams with Shopify and Google Cloud To Transform Enterprise Retail
- Cognizant Teams with Shopify and Google Cloud To Transform Enterprise Retail
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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