By
Peter Mathers
of
Trading Lounge
Monday, February 13, 2023 7:43 AM EST
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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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.
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