How we can use the (SHOP) price promotion to our advantage

June 29, 2024, 6:54 AM ET, BY Rick O. – Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer-term trading plans for SHOP

• Buy SHOP just above 61.62 Target 73.31 Stop-Loss at 61.44 details

The technical summary data tells us to buy SHOP at 61.62 with an upside target of 73.31. This data also tells us to set a stop loss at 61.44 to protect ourselves from excessive losses in case the stock starts moving against the trade. 61.62 is the first support level below 66.05 and according to the rule, any test of support is a buy signal. In this case, the support at 61.62 would be tested, so a buy signal would be present.

• Short SHOP just below 73.31, target 61.62, stop loss at 73.52 details

The technical summary data suggests a short of SHOP as it approaches 73.31, with a downside target of 61.62. However, we should place a stop loss at 73.52. 73.31 is the first resistance level above 66.05, and any test of resistance is usually a short signal. In this case, a short signal would be present if the 73.31 resistance is tested.

Swing Trading Plans for SHOP

• Buy SHOP just above 66.37, target 73.31, stop loss at 66.18 details

If 66.37 starts to rise, the technical summary data tells us to buy SHOP just above 66.37, with an upside target of 73.31. The data also tells us to set a stop loss at 66.18 in case the stock turns against the trade. 66.37 is the first resistance level above 66.05, and any break above resistance is usually a buy signal. In this case, 66.37, the initial resistance, would move up, so a buy signal would be present. Since this plan is based on a break of resistance, it is called a Long Resistance Plan.

• Short SHOP just near 66.37, target 63.89, stop loss at 66.56. details

The technical summary data suggests a short of SHOP if it tests 66.37 with a downside target of 63.89. However, we should place a stop loss at 66.56 in case the stock starts moving against the trade. Any test of resistance is usually a short signal. In this case, a short signal would be present if the resistance 66.37 is tested. Since this plan is a short plan based on a test of resistance, it is called a short resistance plan.

Day trading plans for SHOP

• Buy SHOP just above 66.37, target 66.62, stop loss at 66.22 details

If 66.37 starts to rise, the technical summary data tells us to buy SHOP just above 66.37, with an upside target of 66.62. The data also tells us to set a stop loss at 66.22 in case the stock turns against the trade. 66.37 is the first resistance level above 66.05, and any break above resistance is usually a buy signal. In this case, 66.37, the initial resistance, would move up, so a buy signal would be present. Since this plan is based on a break of resistance, it is called a Long Resistance Plan.

• Short SHOP just near 66.37, target 65.51, stop loss at 66.52. details

The technical summary data suggests a short of SHOP if it tests 66.37 with a downside target of 65.51. However, we should place a stop loss at 66.52 in case the stock starts moving against the trade. Any test of resistance is usually a short signal. In this case, a short signal would be present if the resistance 66.37 is tested. Since this plan is a short plan based on a test of resistance, it is called a short resistance plan.

Check the timestamp of this data. Updated AI-generated signals for Shopify Inc., Subordinated Class A (SHOP) available here: BUSINESS.

SHOP ratings for June 29:

AI-generated signals for SHOP

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Our task as #Investors is to pay attention to the #stocks we own. Part of that is looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Shopify Inc., Subordinated Class A The data table (NASDAQ:SHOP) below can help you with the price trend and we also have more details. Trading plans for SHOP are also displayed here; these plans are updated in real-time for subscribers for whom this report is static. If you want an update or report on another stock, you can get unlimited real-time reports here.