Confirmation week positive, mixed technical picture
Shopify adds 0.8% but stays squeezed under its 50-week average
Confirmation week positive, mixed technical picture
Our view last week
Shopify stock closes its first confirmation week up 2.6%, after the double bottom in the 105 area and an intermediate 11% rebound. Signal strength climbs to 79 out of 100, but the weekly trend is losing conviction: the ADX is slipping and three caution flags show up in the price action. The stock ranks 24th among the 129 US buys already running, with wide running room above the 50-week average, in the 124 area.
This week's summary
Shopify stock closes its confirmation week up a modest 0.8%, but the technical picture is mixed: price is squeezed just under the 50-week moving average, in the 124 area, with four caution flags in the price action and a weekly ADX that's slipping and losing conviction. The MACD, though, is improving. In today's technical analysis, signal strength eases to 74 out of 100, and Shopify ranks 33rd among the 112 US buys already running.
IQS Phase
68
in tension
Signal Strength
74
high · wide & volatile
Sizing
FULL
Ranking
#33 / 112
US stocks in progress
Trade P&L %
+3.43%
from signal to today
restricted Platinum content