SHOPIFY - Daily - Technical analysis published on 11/08/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
78%
6%
My opinion
Bearish under 295.47 USD
My targets
265.17 USD (-7.20%)
207.69 USD (-27.32%)
My analysis
The bearish trend is currently very strong for SHOPIFY. As long as the price remains below the resistance at 295.47 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 265.17 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 207.69 USD as an objective. Crossing it would then enable sellers to target 173.68 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 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
0
10
7.7
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SHOPIFY rating is 285.75 USD. The price registered a decrease of -3.14% on the session and was between 282.44 USD and 297.49 USD. This implies that the price is at +1.17% from its lowest and at -3.95% from its highest.282.44
297.49
285.75
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in Daily of this SHOPIFY chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Moving Average bearish crossovers : MA50 & MA100
Type : Bearish
Timeframe : Daily
The probability of a further decline is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
Support of triangle is broken
Type : Bearish
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 | 173.68 | 207.69 | 265.17 | 285.75 | 295.47 | 328.01 | 369.95 |
| Change (%) | -39.22% | -27.32% | -7.20% | - | +3.40% | +14.79% | +29.47% |
| Change | -112.07 | -78.06 | -20.58 | - | +9.72 | +42.26 | +84.20 |
| Level | Major | Intermediate | Major | - | Major | Intermediate | Minor |
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 | 281.60 | 286.55 | 290.79 | 295.74 | 299.98 | 304.93 | 309.17 |
| Camarilla | 292.49 | 293.34 | 294.18 | 295.02 | 295.86 | 296.71 | 297.55 |
| Woodie | 281.24 | 286.37 | 290.43 | 295.56 | 299.62 | 304.75 | 308.81 |
| Fibonacci | 286.55 | 290.06 | 292.23 | 295.74 | 299.25 | 301.42 | 304.93 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 270.00 | 284.32 | 300.54 | 314.86 | 331.08 | 345.40 | 361.62 |
| Camarilla | 308.36 | 311.16 | 313.96 | 316.76 | 319.56 | 322.36 | 325.16 |
| Woodie | 270.95 | 284.80 | 301.49 | 315.34 | 332.03 | 345.88 | 362.57 |
| Fibonacci | 284.32 | 295.99 | 303.19 | 314.86 | 326.53 | 333.73 | 345.40 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 228.23 | 259.64 | 286.61 | 318.02 | 344.99 | 376.40 | 403.37 |
| Camarilla | 297.52 | 302.87 | 308.22 | 313.57 | 318.92 | 324.27 | 329.63 |
| Woodie | 226.00 | 258.53 | 284.38 | 316.91 | 342.76 | 375.29 | 401.14 |
| Fibonacci | 259.64 | 281.94 | 295.72 | 318.02 | 340.32 | 354.10 | 376.40 |
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): | 37.51 | |
| MACD (12,26,9): | -8.1600 | |
| Directional Movement: | -18.29 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 302.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 319.60 | |
| Elder Ray (13): | -18.06 | |
| Super Trend (3,10): | 338.09 | |
| Zig ZAG (10): | 285.75 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 7.92 | |
| TEMA (21): | 299.66 | |
| Williams %R (14): | -93.70 | |
| Chande Momentum Oscillator (20): | -33.98 | |
| Repulse (5,40,3): | -6.7800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2500 | |
| Courbe Coppock: | 13.03 |
| MA7: | 305.46 | |
| MA20: | 316.70 | |
| MA50: | 330.11 | |
| MA100: | 332.49 | |
| MAexp7: | 301.85 | |
| MAexp20: | 312.37 | |
| MAexp50: | 322.52 | |
| MAexp100: | 316.10 | |
| Price / MA7: | -6.45% | |
| Price / MA20: | -9.77% | |
| Price / MA50: | -13.44% | |
| Price / MA100: | -14.06% | |
| Price / MAexp7: | -5.33% | |
| Price / MAexp20: | -8.52% | |
| Price / MAexp50: | -11.40% | |
| Price / MAexp100: | -9.60% |
News
The latest news and videos published on SHOPIFY at the time of the analysis were as follows:
- Shopify Completes Acquisition of 6 River Systems
- Splitit Announces Partnerships With Shopify and Divido As Well As New North American Merchant Agreements
- Shopify to Announce Third-Quarter 2019 Financial Results October 29, 2019
- Shopify Completes Offering of Class A Subordinate Voting Shares Including Full Exercise of Over-Allotment Option
- Shopify Powers New Era of Retail for U.S. CBD Businesses
This member declared not having a position on this financial instrument or a related financial instrument.
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