Friday, November 25, 2022 10:23 AM EDT
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Shopify Inc., Elliott Wave Technical Analysis
Shopify Inc., (Nasdaq: SHOP): Daily Chart, November 25, 2022,
SHOP Stock Market Analysis: We are expecting a sideways or else downward move into wave{b} of B to then have the last upside move and complete wave C.
SHOP Elliott Wave Count: Wave (a) of {b}.
SHOP Technical Indicators:20EMA acting as support.
SHOP Trading Strategy: Looking for further developments into wave {b}. A break south of 23 could be seen as wave count invalidation.
Analyst: Alessio Barretta
Shopify Inc., SHOP: 4-hour Chart, November 25, 2022
Shopify Inc., Elliott Wave Technical Analysis
SHOP Stock Market Analysis: Looking for further into the pullback in wave b of (b) to then look for further downside into wave (c).
SHOP Elliott Wave count: Wave a of (b).
SHOP Technical Indicators: Above all averages, crossing of the 200 and 20EMA. Strong volume at just above 31$.
SHOP Trading Strategy: Looking for the pullback in wave (b) to retrace deeper to then eventually look for short-term shorts.
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