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Breakout Trade in SHOP
Shopify is emerging from a beautiful Stage 2 base.
SHOP is up more than 100% since the start of a year – a clear sign this is a market leader.
Notice how volume is higher on the rallies up and lower when the stock pulls back. This is a subtle clue that buyers are in control and the smart money is building a position.
The breakout on Thursday came on 2X its average daily volume and the stock closed at the high of the candle – both good signs of a legitimate move.
I want to see SHOP stay above the breakout level or, at a minimum, above its 21-day moving average (blue line on chart).
SHOP is up more than 100% since the start of a year – a clear sign this is a market leader.
Notice how volume is higher on the rallies up and lower when the stock pulls back. This is a subtle clue that buyers are in control and the smart money is building a position.
The breakout on Thursday came on 2X its average daily volume and the stock closed at the high of the candle – both good signs of a legitimate move.
I want to see SHOP stay above the breakout level or, at a minimum, above its 21-day moving average (blue line on chart).
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.