Elliott Wave Technical Analysis: Shopify, Monday, Feb. 13

Shopify Inc., Elliott Wave Technical Analysis

Freepik

Shopify Inc., (SHOP): Daily Chart, Monday, Feb. 13

SHOP Stock Market Analysis: Moving as expected from the last update. At this point there isreason to believe we have completed the three wave move which could either be wave B as labelledor else wave {a} of B to then have a deeper retracement.

SHOP Elliott Wave Count: Wave (c) of B.

SHOP Technical Indicators:Above all averages.

SHOP Trading Strategy:Looking for further downside into either wave {i} of C or else wave (i)of {a}.

TradingLounge Analyst: Alessio Barretta

Shopify Inc., SHOP:4-hour Chart

Shopify Inc., Elliott Wave Technical Analysis

SHOP Stock Market Analysis: It seems like we have a complete five wave sequence into wave{c}. Looking for a clear five wave move to the downside before considering shorts.

SHOP Elliott Wave count: Wave {i} of C.

SHOP Technical Indicators: below 20EMA.

SHOP Trading Strategy:Looking for downside into wave C.


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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 ...

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