SHOPIFY INC - CLASS A (SHOP.CA) Stock Technical Analysis
TSX:SHOP - Toronto Stock Exchange - CA82509L1076 - Common Stock - Currency: CAD
Overall SHOP gets a technical rating of 7 out of 10. In the last year, SHOP was one of the better performers, although we are getting mixed signals now in both the short and medium term time frames.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
Looking at the yearly performance, SHOP did better than 84% of all other stocks.
SHOP is one of the better performing stocks in the IT Services industry, it outperforms 90% of 12 stocks in the same industry.
SHOP has an average volume of 2256490 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
SHOP is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so SHOP is lagging the market slightly.
In the last month SHOP has a been trading in the 138.61 - 160.25 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
SHOP has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
87.25
158.40
When analyzing the support we can see 5 important areas.
- Support @127.97 from a horizontal line in the daily time frame.
- Support @120.11 from a trend line in the weekly time frame.
- Support @115.81 from a trend line in the daily time frame.
- Support @108.92 from a horizontal line in the daily time frame.
- Support @88.13 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 154.61 to 156.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SHOP.CA is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SHOP.CA is neutral. |
| ChartMill Relative Strength | 84.18 | POSITIVE | SHOP.CA has a high relative strength, it outperformed 84.18% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SHOP.CA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SHOP.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SHOP.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.47 | NEUTRAL | The RSI value for SHOP.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.69 | NEGATIVE | The MACD value suggests SHOP.CA has a negative trend. |
| Stochastics (14,3) | 23.46 | NEUTRAL | The Stochastics value for SHOP.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.71 | MEDIUM VOLATILITY | The ATR as a percentage value for SHOP.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 11.26 | NEGATIVE | The low ADX value for SHOP.CA suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 147.64 | 140.59 | 7.05 (4.78%) | 20.93% |
| An entry @147.64. This is a Buy Stop order right above the 10 day moving average. | An exit @140.59. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 7.05 points, which is 4.78%. | When investing 20.93% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of SHOP. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
TSX:SHOP (6/17/2025, 7:00:00 PM)
145.38
-1.69 (-1.15%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg-1.15%
1 Week-3.59%
2 Weeks0.86%
1 Month-1.79%
3 Month-2.79%
6 Month-7.24%
12 Month63.24%
2 Year69.8%
3 Year261.46%
5 Year12.72%
10 YearN/A
15 YearN/A
Volatility
ATR(14)5.59
ATR(20)%3.71%
ATR Inc-30.13%
Range Today2.69
ADR(20)4.63
ADR(20)%3.18%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS84.18
Mansfield0.81
10 Day High160.25
10 Day Low140.6
20 Day High160.25
20 Day Low138.61
52 Week High183.53
52 Week Low72.36
CS1 End127.97
CR1 Start154.61
Volume & EV
DER(3)0%
DER(5)0%
Volume1.23M
Volume Incr-16.69%
Vol(5)1.61M
Vol(50)2.26M