By
Peter Mathers
of
Trading Lounge
Friday, September 23, 2022 6:31 AM EST
Shopify Inc., Elliott Wave Technical Analysis
Shopify Inc.,(SHOP): Daily Chart, September 23 2022, SHOP Stock Market Analysis: Moving as expected, looking for further downside to complete wave {v}. We have a lot of room to the downside as we break wave {iii}.
SHOP Elliott Wave count: (iii) of {v}
SHOP Trading Strategy: Looking to place shorts with a safe stop below red line.
SHOP Technical Indicators: We are below all averages as well as in oversold territory.
Trading Lounge Analyst: Alessio Barretta
(Click on image to enlarge)
Shopify Inc., SHOP: 4-hour Chart, September 23 2022
Shopify Inc., Elliott Wave Technical Analysis
SHOP Stock Market Analysis: Looking for continuation lower in wave (iii) as well as an acceleration to the downside.
SHOP Elliott Wave count: (iii) of {v}
SHOP Technical Indicators: All technical are in favor of further downside.
SHOP Trading Strategy: Place short trade with a more aggressive stop below red line.
(Click on image to enlarge)
More By This Author:
Ethereum ETHUSD Elliott Wave Technical Analysis 23 September 2022
Elliott Wave Technical Analysis: Chainlink
SP500 Elliott Wave Trading Strategies For Wave 3 Down
Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...
more
Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
less
How did you like this article? Let us know so we can better customize your reading experience.