SHOPIFY INC - CLASS A (SHOP) Stock Technical Analysis
NASDAQ:SHOP - Nasdaq - CA82509L1076 - Common Stock - Currency: USD
Overall SHOP gets a technical rating of 6 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 short term is neutral, but the long term trend is still positive. Not much to worry about for now.
SHOP is part of the IT Services industry. There are 82 other stocks in this industry. SHOP outperforms 81% of them.
SHOP is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so SHOP is performing more or less in line with the market.
SHOP has an average volume of 14138100 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, SHOP did better than 91% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
In the last month SHOP has a been trading in the 100.31 - 117.36 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
SHOP has an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
62.83
115.27
5 important support areas can be observed.
- Support @91.77 from a horizontal line in the daily time frame.
- Support @83.31 from a trend line in the weekly time frame.
- Support @80.18 from a trend line in the daily time frame.
- Support @78.14 from a horizontal line in the daily time frame.
- Support @63.46 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @111.41 from a horizontal line in the weekly time frame.
- Resistance @114.13 from a horizontal line in the daily time frame.
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 is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SHOP is neutral. |
| ChartMill Relative Strength | 91.37 | POSITIVE | SHOP has a high relative strength, it outperformed 91.37% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SHOP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SHOP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SHOP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.15 | NEUTRAL | The RSI value for SHOP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.26 | NEGATIVE | The MACD value suggests SHOP has a negative trend. |
| Stochastics (14,3) | 50.21 | NEUTRAL | The Stochastics value for SHOP is a neutral value. |
| Average True Range in percent/ATR (20) | 3.84 | MEDIUM VOLATILITY | The ATR as a percentage value for SHOP suggests some volalility. |
| Average Directional Index/ADX (14) | 14.84 | NEGATIVE | The low ADX value for SHOP 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)
105.34
-3.87 (-3.54%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg-3.54%
1 Week-5.45%
2 Weeks-1.75%
1 Month-4.42%
3 Month11.06%
6 Month-8.1%
12 Month55.69%
2 Year63.07%
3 Year237.2%
5 Year10.98%
10 Year3002.8%
15 YearN/A
Volatility
ATR(14)4.22
ATR(20)%3.84%
ATR Inc24.38%
Range Today2.35
ADR(20)3.53
ADR(20)%3.35%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.37
Mansfield1.04
10 Day High117.36
10 Day Low102.81
20 Day High117.36
20 Day Low100.31
52 Week High129.38
52 Week Low48.56
CS1 End91.77
CR1 Start111.41
Volume & EV
DER(3)0.42%
DER(5)-0.13%
Volume7.98M
Volume Incr-39.84%
Vol(5)9.00M
Vol(50)14.14M