SHOPIFY - 15 min. - Technical analysis published on 10/16/2024 (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:
Bearish
Underlying:
Strongly bearish
Technical indicators
44%
11%
44%
My opinion
Bearish under 82.05 USD
My targets
80.34 USD (-1.94%)
78.74 USD (-3.89%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SHOPIFY as long as the price remains well below 82.05 USD. The next bearish objective for sellers is set at 80.34 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 78.74 USD. If there is any crossing, the next objective would be the support located at 77.03 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
3.9
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This analysis was given by Qaisali123. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SHOPIFY rating 81.93 USD. The price registered a decrease of -2.09% on the session and was between 80.46 USD and 83.77 USD. This implies that the price is at +1.83% from its lowest and at -2.20% from its highest.80.46
83.77
81.93
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 15 min. chart of SHOPIFY indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 15 minutes
In fact, only 8 technical indicators out of 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 15 minutes
Pivot points : price is under support 1
Type : Neutral
Timeframe : 15 minutes
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 15 minutes
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 15 minutes
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 15 minutes
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 | 73.58 | 77.72 | 81.12 | 81.93 | 82.65 | 84.37 | 90.72 |
| Change (%) | -10.19% | -5.14% | -0.99% | - | +0.88% | +2.98% | +10.73% |
| Change | -8.35 | -4.21 | -0.81 | - | +0.72 | +2.44 | +8.79 |
| Level | Major | Major | Major | - | Minor | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 77.03 | 78.74 | 80.34 | 82.05 | 83.65 | 85.36 | 86.96 |
| Camarilla | 81.02 | 81.32 | 81.63 | 81.93 | 82.23 | 82.54 | 82.84 |
| Woodie | 76.97 | 78.71 | 80.28 | 82.02 | 83.59 | 85.33 | 86.90 |
| Fibonacci | 78.74 | 80.01 | 80.79 | 82.05 | 83.32 | 84.10 | 85.36 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 77.06 | 78.68 | 80.96 | 82.58 | 84.86 | 86.48 | 88.76 |
| Camarilla | 82.17 | 82.53 | 82.88 | 83.24 | 83.60 | 83.96 | 84.31 |
| Woodie | 77.39 | 78.85 | 81.29 | 82.75 | 85.19 | 86.65 | 89.09 |
| Fibonacci | 78.68 | 80.17 | 81.09 | 82.58 | 84.07 | 84.99 | 86.48 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 54.99 | 60.43 | 70.28 | 75.72 | 85.57 | 91.01 | 100.86 |
| Camarilla | 75.94 | 77.34 | 78.74 | 80.14 | 81.54 | 82.94 | 84.35 |
| Woodie | 57.21 | 61.53 | 72.50 | 76.82 | 87.79 | 92.11 | 103.08 |
| Fibonacci | 60.43 | 66.27 | 69.88 | 75.72 | 81.56 | 85.17 | 91.01 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 45.92 | |
| MACD (12,26,9): | -0.3300 | |
| Directional Movement: | -13.59 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 81.52 | |
| Parabolic SAR (0,02-0,02-0,2): | 80.92 | |
| Elder Ray (13): | -0.08 | |
| Super Trend (3,10): | 82.38 | |
| Zig ZAG (10): | 81.95 | |
| VORTEX (21): | 1.1100 | |
| Stochastique (14,3,5): | 37.09 | |
| TEMA (21): | 81.49 | |
| Williams %R (14): | -26.13 | |
| Chande Momentum Oscillator (20): | -0.02 | |
| Repulse (5,40,3): | 0.5900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 0.71 |
| MA7: | 82.63 | |
| MA20: | 80.45 | |
| MA50: | 74.97 | |
| MA100: | 68.82 | |
| MAexp7: | 81.71 | |
| MAexp20: | 81.99 | |
| MAexp50: | 82.55 | |
| MAexp100: | 82.75 | |
| Price / MA7: | -0.85% | |
| Price / MA20: | +1.84% | |
| Price / MA50: | +9.28% | |
| Price / MA100: | +19.05% | |
| Price / MAexp7: | +0.29% | |
| Price / MAexp20: | -0.05% | |
| Price / MAexp50: | -0.73% | |
| Price / MAexp100: | -0.97% |
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:
- New to the Street Unveils Exclusive Media Package for Established Shopify Merchants Seeking Premier Exposure
- tinyCo's New AI Tool Helps Shopify Merchants Make a Year’s Marketing
- tinyEmail Reinforces Its Commitment to Empowering Shopify Merchants with Leading AI-Powered Email Marketing Solution
- Target and Shopify Partner to Help Consumers Discover and Shop an Expanded Assortment on Target.com
-
Is e-commerce the death of the high street? | Harley Finkelstein, Shopify | The Big Question
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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