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SHOPIFY
SHOPIFY
- USD (-)
- 15 min delayed data - NASDAQ Stocks
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Stocks
Ticker: SHOP
ISIN: CA82509L1076

SHOPIFY - Daily - Technical analysis published on 01/06/2022 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : TARGET REACHED

A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.

Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 1,246.85 USD
My targets
1,096.64 USD (-7.42%)
1,046.90 USD (-11.62%)
My analysis
SHOPIFY is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1,246.85 USD. The next support located at 1,096.64 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1,046.90 USD. Below this support, sellers could then target 875.76 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.1

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Vincent Launay
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

The SHOPIFY price is 1,184.52 USD. The price is lower by -0.46% since the last closing and was traded between 1,138.58 USD and 1,197.76 USD over the period. The price is currently at +4.03% from its lowest and -1.11% from its highest.

1,138.58
1,197.76
1,184.52

A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.

Central Gaps

Opening Gap DOWN

Type : Bearish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The Central Records scanner for higher/lower results shows the following items:

Central Records

New LOW record (1st january)

Type : Bearish

Timeframe : Weekly


New LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


A technical analysis in Daily of this SHOPIFY chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found this result concerning these indicators:

Central Indicators

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly



The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Near horizontal support

Type : Bullish

Timeframe : Daily


Support of channel is broken

Type : Bearish

Timeframe : Daily



The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 875.76 1,046.90 1,096.64 1,184.52 1,199.00 1,314.90 1,474.00
Change (%) -26.07% -11.62% -7.42% - +1.22% +11.01% +24.44%
Change -308.76 -137.62 -87.88 - +14.48 +130.38 +289.48
Level Intermediate Major Minor - Intermediate Major Intermediate



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1,111.201,142.481,166.241,197.521,221.281,252.561,276.32
Camarilla1,174.871,179.921,184.971,190.011,195.061,200.101,205.15
Woodie1,107.451,140.601,162.491,195.641,217.531,250.681,272.57
Fibonacci1,142.481,163.501,176.491,197.521,218.541,231.531,252.56


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1,227.881,289.621,333.511,395.251,439.141,500.881,544.77
Camarilla1,348.341,358.031,367.711,377.391,387.071,396.761,406.44
Woodie1,218.951,285.161,324.581,390.791,430.211,496.421,535.84
Fibonacci1,289.621,329.971,354.901,395.251,435.601,460.531,500.88


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard960.741,116.321,246.851,402.431,532.961,688.541,819.07
Camarilla1,298.711,324.941,351.161,377.391,403.621,429.841,456.07
Woodie948.231,110.061,234.341,396.171,520.451,682.281,806.56
Fibonacci1,116.321,225.611,293.131,402.431,511.721,579.241,688.54

Numerical data


The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators
Moving averages

RSI (14): 30.54
MACD (12,26,9): -60.4600
Directional Movement: -20.52
AROON (14): -57.14
DEMA (21): 1,280.31
Parabolic SAR (0,02-0,02-0,2): 1,440.95
Elder Ray (13): -151.74
Super Trend (3,10): 1,376.99
Zig ZAG (10): 1,192.60
VORTEX (21): 0.7600
Stochastique (14,3,5): 9.47
TEMA (21): 1,243.69
Williams %R (14): -82.34
Chande Momentum Oscillator (20): -84.41
Repulse (5,40,3): -4.5300
ROCnROLL: 2
TRIX (15,9): -0.4500
Courbe Coppock: 12.64
MA7: 1,305.08
MA20: 1,355.55
MA50: 1,465.51
MA100: 1,458.38
MAexp7: 1,275.15
MAexp20: 1,352.67
MAexp50: 1,417.49
MAexp100: 1,431.36
Price / MA7: -9.24%
Price / MA20: -12.62%
Price / MA50: -19.17%
Price / MA100: -18.78%
Price / MAexp7: -7.11%
Price / MAexp20: -12.43%
Price / MAexp50: -16.44%
Price / MAexp100: -17.25%

Quotes : - 15 min delayed data - NYSE Stocks

News


Don't forget to follow the news on SHOPIFY. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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Londinia
Londinia AI

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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…

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