SHOPIFY INC - CLASS A (SHOP) Technical Analysis
NASDAQ:SHOP • CA82509L1076
Current stock price
SHOP Technical Rating and Analysis
Taking everything into account, SHOP scores 5 out of 10 in our technical rating. SHOP has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.
- SHOP is one of the better performing stocks in the IT Services industry, it outperforms 81% of 88 stocks in the same industry.
- SHOP has an average volume of 9997840 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long and short term trends are both neutral. This gives a pretty neutral overall picture!
- When comparing the performance of all stocks over the past year, SHOP turns out to be only a medium performer in the overall market: it outperformed 58% of all stocks.
- SHOP is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so SHOP is lagging the market.
- In the last month SHOP has a been trading in the 108.95 - 137.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
SHOP Weekly and Daily overview Charts
SHOP Setup Rating and Analysis
SHOP has an average technical rating and it also does not offer a high quality setup 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
SHOP Support and Resistance Analysis
109.55
When analyzing the support we notice one important area.
- A support zone ranging from 110.66 to 112.18. This zone is formed by a combination of multiple trend lines in multiple time frames.
3 important resistance areas can be observed.
- Resistance @131.16 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 133.29 to 135.15. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @154.27 from a trend line in the daily time frame.
SHOP Technical Indicator Signal Analysis
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 | NEUTRAL | NEUTRAL | The long term trend for SHOP is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SHOP is neutral. |
| ChartMill Relative Strength | 58.16 | NEUTRAL | SHOP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SHOP is above the rising 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 | MIXED | The current price of SHOP is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52.41 | NEUTRAL | The RSI value for SHOP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.13 | POSITIVE | The MACD value suggests SHOP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 64.87 | NEUTRAL | The Stochastics value for SHOP is a neutral value. |
| Average True Range in percent/ATR (20) | 4.91 | MEDIUM VOLATILITY | The ATR as a percentage value for SHOP suggests some volalility. |
| Average Directional Index/ADX (14) | 15.36 | NEGATIVE | The low ADX value for SHOP suggests a weak or negative trend. |
SHOP Chart- and CandleStick Pattern Analysis
SHOP Technicals: Chart, Performance Metrics, Trend & Indicators
125.83
+1.6 (+1.29%)
SHOPIFY INC - CLASS A / SHOP TA FAQ
What is the ChartMill technical rating of SHOPIFY INC - CLASS A (SHOP) stock?
ChartMill assigns a technical rating of 5 / 10 to SHOP.
What is the trend direction for SHOP stock?
The current trend direction for SHOPIFY INC - CLASS A (SHOP) is Bearish.
What is the RSI signal for SHOPIFY INC - CLASS A (SHOP) stock?
SHOPIFY INC - CLASS A (SHOP) has an RSI value of 52.4122. This indicates that the stock is currently neutral.
What is the MACD signal for SHOPIFY INC - CLASS A (SHOP) stock?
The MACD indicator for SHOPIFY INC - CLASS A (SHOP) has a value of 1.12668, indicating a bullish trend.
What is the short term momentum for SHOP stock?
The short term momentum for SHOPIFY INC - CLASS A (SHOP) is neutral.