Shopify: 19 weeks into the sell signal, but the technical picture grows nuanced

Shopify is at week 19 of a sell signal. The latest week closed down 7.7% with sellers dominant at 92%, following a sharp rebound the prior week. The technical picture over the past 4 weeks, however, tells a story of a decline that is progressively losing steam: the MACD histogram narrows, CMF recovers toward zero, and momentum is nearly flat.