Sell signal, week 4 · decline nearly over
Shopify gains 6.4% and closes above the Inversion Point of its Sell signal
Our view last week
After last week's flat close, Shopify shifted gear: +10.7%, with a 5% bounce off its 20-day average and buyers back in the majority of weekly volume. For Shopify stock, one of the US tech stocks on our list, money flow is back above zero and the sell signal has lost almost all its push: strength slides from 39 to 2 out of 100, a decline fading out. The price action now sets the tone: the price is climbing back toward the Inversion Point, in the 147 area.
This week's summary
A second straight weekly gain for Shopify, +6.4%, and the weekly MACD histogram turns up after 4 weeks of decline. For Shopify stock, one of the US tech stocks we track, technical analysis and price action describe a Sell signal with nothing left in it: signal strength stays at 2 out of 100, a decline nearly over. The close and the Inversion Point, in the 147 area, have already crossed with no change of sign declared: one to watch in the coming sessions.
Sell signal in observation
·4th week from start
·US stocks
·T2
·📅 Earnings · Oct 22
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IQS Phase
32
ordinary
Signal Strength
2
decline nearly over
Sizing
MINIMUM
Ranking
#171 / 175
US stocks sell signals
Trade P&L %
-17.55%
from signal to date, no stop loss
Shopify (SHOP) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 171st among the 175 sell signals for US stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
SHOP belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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