By Mill Chart
Last update: Jan 8, 2025
In this article we will dive into SHOPIFY INC - CLASS A (NYSE:SHOP) as a possible candidate for growth investing. Investors should always do their own research, but we noticed SHOPIFY INC - CLASS A showing up in our strong growth, ready to breakout screen, which makes it worth to investigate a bit more.
ChartMill assigns a proprietary Growth Rating to each stock. The score is computed by evaluating various growth aspects, like EPS and revenue growth. We take into account the history as well as the estimated future numbers. NYSE:SHOP was assigned a score of 9 for growth:
ChartMill assigns a proprietary Health Rating to each stock. The score is computed by evaluating various liquidity and solvency ratios and ranges from 0 to 10. NYSE:SHOP was assigned a score of 8 for health:
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:
Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:SHOP is 7:
Besides having an excellent technical rating, SHOP also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 106.77, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
Our Strong Growth screener lists more Strong Growth stocks and is updated daily.
For an up to date full fundamental analysis you can check the fundamental report of SHOP
Our latest full technical report of SHOP contains the most current technical analsysis.
Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.
105.03
+1.45 (+1.4%)
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SHOPIFY (NASDAQ:SHOP) is a high-growth stock with strong financial health and a bullish technical setup, making it a candidate for investors seeking breakout opportunities.