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 10/16/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bullish

Technical indicators

17%

50%

33%

My opinion

Bearish under 82.65 USD

My targets

81.12 USD (-0.99%)

77.72 USD (-5.14%)

My analysis

The strong short-term decline in SHOPIFY calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 82.65 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 81.12 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 77.72 USD as an objective. Crossing it would then enable sellers to target 73.58 USD. Be careful, a return to above 82.65 USD could jeopardize the reversal.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

1.4

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 Qaisali123. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The SHOPIFY price is 81.93 USD. On the day, this instrument lost -2.09% with the lowest point at 80.46 USD and the highest point at 83.77 USD. The deviation from the price is +1.83% for the low point and -2.20% for the high point.

80.46

83.77

81.93

Here is a more detailed summary of the historical variations registered by SHOPIFY:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of SHOPIFY indicates that the overall trend is slightly bullish. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, only 9 technical indicators out of 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Bullish harami

Type : Bullish

Timeframe : 1 hour

ProTrendLines

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

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	81.06	81.86	82.77	83.57	84.48	85.28	86.19
Camarilla	83.21	83.37	83.52	83.68	83.84	83.99	84.15
Woodie	81.12	81.89	82.83	83.60	84.54	85.31	86.25
Fibonacci	81.86	82.51	82.92	83.57	84.22	84.63	85.28

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):	40.77
MACD (12,26,9):	-0.2700
Directional Movement:	-26.46
AROON (14):	-21.43
DEMA (21):	82.54
Parabolic SAR (0,02-0,02-0,2):	83.62
Elder Ray (13):	-0.96
Super Trend (3,10):	83.95
Zig ZAG (10):	81.95
VORTEX (21):	0.9000
Stochastique (14,3,5):	36.74
TEMA (21):	81.94
Williams %R (14):	-61.89
Chande Momentum Oscillator (20):	-1.61
Repulse (5,40,3):	0.0700
ROCnROLL:	2
TRIX (15,9):	0.0000
Courbe Coppock:	3.38

MA7:	82.63
MA20:	80.45
MA50:	74.97
MA100:	68.82
MAexp7:	82.18
MAexp20:	82.74
MAexp50:	82.41
MAexp100:	81.13
Price / MA7:	-0.85%
Price / MA20:	+1.84%
Price / MA50:	+9.28%
Price / MA100:	+19.05%
Price / MAexp7:	-0.28%
Price / MAexp20:	-0.95%
Price / MAexp50:	-0.56%
Price / MAexp100:	+1.01%

Quotes : - 15 min delayed data - NYSE Stocks

News

Don't forget to follow the news on SHOPIFY. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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