By Mill Chart
Last update: Oct 3, 2024
For growth-minded investors, high revenue and EPS growth are key criteria. Today, we'll examine whether SHOPIFY INC - CLASS A (NYSE:SHOP) fits the bill for growth investing, particularly as it forms a base and hints at a potential breakout. Remember, due diligence is essential, but SHOPIFY INC - CLASS A has caught our attention on our screen for growth with base formation. It may warrant additional investigation.
A key component of ChartMill's stock assessment is the Growth Rating, which spans from 0 to 10. This rating evaluates diverse growth factors, such as EPS and revenue growth, considering both past performance and future projections. NYSE:SHOP has received a 9 out of 10:
ChartMill utilizes a Health Rating to assess stocks, scoring them on a scale of 0 to 10. This rating takes into account a variety of liquidity and solvency ratios, both in absolute terms and in comparison to industry peers. NYSE:SHOP has earned a 8 out of 10:
ChartMill assigns a proprietary Profitability Rating to each stock. The score is computed by evaluating various profitability ratios and margins and ranges from 0 to 10. NYSE:SHOP was assigned a score of 5 for profitability:
ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:SHOP exhibits a 7 setup rating, indicating its consolidation status in recent days and weeks.
SHOP has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 79.47. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 79.09, a Stop Loss order could be placed below this zone.
More Strong Growth stocks can be found in our Strong Growth screener.
Our latest full fundamental report of SHOP contains the most current fundamental analsysis.
Our latest full technical report of SHOP contains the most current technical analsysis.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
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SHOPIFY INC (NASDAQ:SHOP) shows strong growth fundamentals and a bullish technical setup, making it a candidate for investors seeking high-growth stocks with breakout potential.