Elliott Wave Technical Analysis: Shopify Inc. - Tuesday, June 13

By Peter Mathers of Trading Lounge

Tuesday, June 13, 2023 8:27 AM EDT

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Shopify Inc., Elliott Wave Technical Analysis

Shopify Inc., (Nasdaq: SHOP): Daily Chart, 13 June 2023.

SHOP Stock Market Analysis: Looking for further upside into wave B as we seem to be moving higher into wave {c} of B. We are now sitting at the 61.8% {c} vs. {a} as we aim towards equality at 90$.

SHOP Elliott Wave Count: Wave {c} of B.

SHOP Technical Indicators: Above all averages.

SHOP Trading Strategy: Looking for upside to unfold into wave {c}.

Analyst: Alessio Barretta

Shopify Inc., SHOP: 4-hour Chart,13 June 2023.

Shopify Inc., Elliott Wave Technical Analysis
SHOP Stock Market Analysis: We seem to be in wave v of (iii) as the most recent pullback in what could be wave iv seems to be a three wave move, therefore corrective in nature.

SHOP Elliott Wave count: Wave v of (iii).

SHOP Technical Indicators: Above all averages.

SHOP Trading Strategy: Looking for into wave as we extend higher.