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SHOPIFY
SHOPIFY
- USD (-)
- 15 min delayed data - NYSE Stocks
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Stocks
Ticker: SHOP
ISIN: CA82509L1076

SHOPIFY - Daily - Technical analysis published on 01/09/2020 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : TARGET REACHED

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 bullish
De fond: Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 406.99 USD
My targets
438.94 USD (+2.36%)
480.31 USD (+12.01%)
My analysis
The bullish trend is currently very strong on SHOPIFY. As long as the price remains above the support at 406.99 USD, you could try to benefit from the boom. The first bullish objective is located at 438.94 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 480.31 USD as an objective. Crossing it would then enable buyers to target 544.01 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
8.6

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.

Bastien Huneau
This analysis was given by Bastien Huneau. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

The SHOPIFY price is 428.81 USD. On the day, this instrument gained +2.56% with the lowest point at 421.79 USD and the highest point at 431.00 USD. The deviation from the price is +1.66% for the low point and -0.51% for the high point.

421.79
431.00
428.81

The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.

Central Gaps

Opening Gap UP

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly


New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


A technical analysis in Daily of this SHOPIFY chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 15 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily


Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : Daily


Resistance of channel is broken

Type : Bullish

Timeframe : Daily



Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:

Central Candlesticks

Bullish engulfing lines

Type : Bullish

Timeframe : Daily




ProTrendLines
S3
S2
S1
Price


S3S2S1Price
ProTrendLines 314.04 346.08 406.99 428.81
Change (%) -26.76% -19.29% -5.09% -
Change -114.77 -82.73 -21.82 -
Level Intermediate Major 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
Standard401.77406.82412.46417.50423.14428.19433.83
Camarilla415.16416.14417.12418.10419.08420.06421.04
Woodie402.07406.97412.76417.65423.44428.34434.13
Fibonacci406.82410.90413.42417.50421.58424.11428.19


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard375.45383.23393.76401.54412.07419.85430.38
Camarilla399.26400.93402.61404.29405.97407.65409.33
Woodie376.83383.92395.14402.23413.45420.54431.76
Fibonacci383.23390.22394.55401.54408.53412.86419.85


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard228.81270.17333.88375.24438.94480.31544.01
Camarilla368.69378.32387.95397.58407.21416.84426.47
Woodie239.98275.76345.05380.82450.11485.89555.18
Fibonacci270.17310.31335.10375.24415.37440.17480.31

Numerical data


The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators
Moving averages

RSI (14): 74.69
MACD (12,26,9): 17.9500
Directional Movement: 20.02
AROON (14): 71.43
DEMA (21): 421.23
Parabolic SAR (0,02-0,02-0,2): 392.88
Elder Ray (13): 19.87
Super Trend (3,10): 385.55
Zig ZAG (10): 430.00
VORTEX (21): 1.1700
Stochastique (14,3,5): 88.31
TEMA (21): 425.06
Williams %R (14): -4.88
Chande Momentum Oscillator (20): 38.36
Repulse (5,40,3): 3.4000
ROCnROLL: 1
TRIX (15,9): 0.7200
Courbe Coppock: 14.05
MA7: 412.07
MA20: 398.96
MA50: 354.16
MA100: 347.77
MAexp7: 414.39
MAexp20: 397.28
MAexp50: 369.83
MAexp100: 348.09
Price / MA7: +4.06%
Price / MA20: +7.48%
Price / MA50: +21.08%
Price / MA100: +23.30%
Price / MAexp7: +3.53%
Price / MAexp20: +7.99%
Price / MAexp50: +16.00%
Price / MAexp100: +23.25%

News


The latest news and videos published on SHOPIFY at the time of the analysis were as follows:

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

About author

Londinia
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