SHOPIFY

- USD (-)

- 15 min delayed data - NYSE Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	SHOP
ISIN:	CA82509L1076

SHOPIFY - 1H - Technical analysis published on 06/05/2024 (GMT)

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06/05/2024 - 12:49
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Londinia

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Timeframe : 1H
- Analysis generated on 06/05/2024 - 12:49
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

94%

My opinion

Bullish above 58.91 USD

My targets

63.07 USD (+3.94%)

63.80 USD (+5.14%)

My analysis

The bullish trend is currently very strong on SHOPIFY. As long as the price remains above the support at 58.91 USD, you could try to benefit from the boom. The first bullish objective is located at 63.07 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 63.80 USD as an objective. Crossing it would then enable buyers to target 70.37 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

8.4

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by m6rga3. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The SHOPIFY price is 60.68 USD. The price registered an increase of +1.64% on the session with the lowest point at 59.21 USD and the highest point at 60.69 USD. The deviation from the price is +2.48% for the low point and -0.02% for the high point.

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:

The Central Records scanner for higher/lower results shows the following items:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of SHOPIFY in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:

Moving Average bullish crossovers : MA50 & MA100

Type : Bullish

Timeframe : 1 hour

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

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:

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Three white soldiers

Type : Bullish

Timeframe : 1 hour

ProTrendLines

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):	74.14
MACD (12,26,9):	0.5000
Directional Movement:	19.50
AROON (14):	100.00
DEMA (21):	59.99
Parabolic SAR (0,02-0,02-0,2):	58.95
Elder Ray (13):	0.73
Super Trend (3,10):	58.73
Zig ZAG (10):	60.68
VORTEX (21):	1.1600
Stochastique (14,3,5):	95.25
TEMA (21):	60.27
Williams %R (14):	-0.22
Chande Momentum Oscillator (20):	1.57
Repulse (5,40,3):	1.9700
ROCnROLL:	1
TRIX (15,9):	0.1000
Courbe Coppock:	4.31

MA7:	58.80
MA20:	59.85
MA50:	67.92
MA100:	73.70
MAexp7:	59.99
MAexp20:	59.38
MAexp50:	58.90
MAexp100:	59.65
Price / MA7:	+3.20%
Price / MA20:	+1.39%
Price / MA50:	-10.66%
Price / MA100:	-17.67%
Price / MAexp7:	+1.15%
Price / MAexp20:	+2.19%
Price / MAexp50:	+3.02%
Price / MAexp100:	+1.73%

Quotes : 06/04/2024 - 19:59 - 15 min delayed data - NYSE Stocks

News

The last news published on SHOPIFY at the time of the generation of this analysis was as follows:

06/03/2024 - 05:05 What makes a successful e-commerce business? | Harley Finkelstein, Shopify | The Big Question
05/13/2024 - 13:00 Avalara Expands Partnership with Shopify to Enable Global Tax Compliance for Merchants
04/09/2024 - 04:01 Cognizant Teams with Shopify and Google Cloud To Transform Enterprise Retail
04/09/2024 - 04:01 Cognizant Teams with Shopify and Google Cloud To Transform Enterprise Retail
04/09/2024 - 04:01 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.

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