SHOPIFY INC - CLASS A (SHOP) Stock Technical Analysis
NASDAQ:SHOP - Nasdaq - CA82509L1076 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to SHOP. Both in the recent history as in the last year, SHOP has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that SHOP is one of the better performing stocks in the market, outperforming 94% of all stocks. On top of that, SHOP also shows a nice and consistent pattern of rising prices.
SHOP is one of the better performing stocks in the IT Services industry, it outperforms 86% of 82 stocks in the same industry.
SHOP is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month SHOP has a been trading in the 103.91 - 129.08 range, which is quite wide. It is currently trading near the high of this range.
SHOP has an average volume of 11473000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although SHOP has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
63.83
128.34
5 important support areas can be observed.
- A support zone ranging from 114.78 to 115.35. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 112.11 to 112.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @86.52 from a trend line in the weekly time frame.
- A support zone ranging from 78.21 to 78.99. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @64.47 from a trend line in the weekly 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 | UP | POSITIVE | The short term trend for SHOP is up. |
| ChartMill Relative Strength | 94.86 | POSITIVE | SHOP has a high relative strength, it outperformed 94.86% off all stocks 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 | POSITIVE | The current price of SHOP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 68.72 | NEUTRAL | The RSI value for SHOP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1 | POSITIVE | The MACD value suggests SHOP has a positive trend. |
| Stochastics (14,3) | 94.49 | OVERBOUGHT | The high Stochastics value suggests SHOP may be overbought. |
| Average True Range in percent/ATR (20) | 3.54 | MEDIUM VOLATILITY | The ATR as a percentage value for SHOP suggests some volalility. |
| Average Directional Index/ADX (14) | 11.67 | 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)
127.07
+0.32 (+0.25%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg0.25%
1 Week13.34%
2 Weeks9.05%
1 Month19.91%
3 Month51.91%
6 Month22.95%
12 Month101.19%
2 Year88.03%
3 Year264.83%
5 Year24.09%
10 Year3298.5%
15 YearN/A
Volatility
ATR(14)4.64
ATR(20)%3.54%
ATR Inc20.92%
Range Today3.19
ADR(20)4.37
ADR(20)%3.44%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS94.86
Mansfield2.18
10 Day High129.08
10 Day Low111.33
20 Day High129.08
20 Day Low103.91
52 Week High129.38
52 Week Low48.56
CS1 End115.35
CR1 StartN/A
Volume & EV
DER(3)1.58%
DER(5)2.44%
Volume8.47M
Volume Incr38.78%
Vol(5)10.03M
Vol(50)11.47M