Shopify: a double bottom after a 7.9% drop
Shopify drops 7.9% and carves a double bottom in the 105 area
Shopify: a double bottom after a 7.9% drop
Our view last week
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.
This week's summary
Shopify stock closes a rough week, down 7.9%, but the price has already carved a clean double bottom in the 105 area, with an 11% intermediate rebound: the pattern is strong. The buy signal, fired three weeks ago and confirmed the following week, is holding but losing shine — the weekly ADX is slipping and the MACD is deteriorating. With earnings on the calendar these days, Shopify's technical analysis calls for extra caution.
IQS Phase
44
ordinary
Signal Strength
81
high · wide & volatile
Sizing
FULL
Ranking
#14 / 124
US stocks in progress
Trade P&L %
-4.78%
from signal to today
Rank position
ranks 14th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 81 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly +0.17% · monthly -3.92%
SHOP belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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