August 21, 2024, 9:34 PM ET, BY Jake B. – Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer-term trading plans for SHOP

• Buy SHOP just above 70.18 Target 82.87 Stop-Loss @ 69.98 Details

The technical summary data tells us to buy SHOP at 70.18 with an upside target of 82.87. This data also tells us to set a stop loss at 69.98 to protect ourselves from excessive losses in case the stock starts moving against the trade. 70.18 is the first support level below 76.14 and any test of support is usually a buy signal. In this case, the support at 70.18 is tested, a buy signal would be present.

• Short SHOP just below 82.87, target 70.18, stop loss at 83.11 Details

The technical summary data suggests a short of SHOP as it approaches 82.87, with a downside target of 70.18. However, we should place a stop loss at 83.11. 82.87 is the first resistance level above 76.14, and according to the rule, any test of resistance is a short signal. In this case, a short signal would be present if the resistance 82.87 is tested.

Swing Trading Plans for SHOP

• Buy SHOP just above 81.22, target 82.87, stop loss at 80.99 Details

If 81.22 starts to rise, the technical summary data tells us to buy SHOP just above 81.22, with an upside target of 82.87. The data also tells us to set a stop loss at 80.99 in case the stock turns against the trade. 81.22 is the first resistance level above 76.14, and any break above resistance is usually a buy signal. In this case, 81.22, the initial resistance, would rise to the upside, so a buy signal would be present. Since this plan is based on a break of resistance, it is called a Long Resistance Plan.

• Short SHOP just near 81.22, target 75.35, stop loss at 81.45. Details

The technical summary data suggests a short of SHOP if 81.22 is tested with a downside target of 75.35. However, we should place a stop loss at 81.45 in case the stock starts moving against the trade. Any test of resistance is basically a short signal. In this case, a short signal would be present if the resistance 81.22 is tested. Since this plan is a short plan based on a test of resistance, it is called a short resistance plan.

Day trading plans for SHOP

• Buy SHOP just above 81.22, target 82.87, stop loss at 81.03 Details

If 81.22 starts to rise, the technical summary data tells us to buy SHOP just above 81.22, with an upside target of 82.87. The data also tells us to set a stop loss at 81.03 in case the stock turns against the trade. 81.22 is the first resistance level above 76.14, and any break above resistance is usually a buy signal. In this case, 81.22, the initial resistance, would move up, so a buy signal would be present. Since this plan is based on a break of resistance, it is called a Long Resistance Plan.

• Short SHOP just near 81.22, target 75.65, stop loss at 81.41. Details

The technical summary data suggests a short of SHOP if it tests 81.22 with a downside target of 75.65. However, we should place a stop loss at 81.41 in case the stock starts moving against the trade. Any test of resistance is usually a short signal. In this case, a short signal would be present if the resistance 81.22 is tested. Since this plan is a short plan based on a test of resistance, it is called a short resistance plan.

Check the timestamp of this data. Updated AI-generated signals for Shopify Inc., Subordinated Class A (SHOP) available here: BUSINESS.

SHOP ratings for August 21:

AI-generated signals for SHOP

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How do we know what’s going on #behind the scenes of a company? According to Stock Traders Daily, a 20-year #FinancialIndustry Innovator, the best way to do this is to observe the price movement in the stock. The Shopify Inc., Subordinated Class A The following report (NASDAQ:SHOP) is a real-world example. It includes trading plans for SHOP, but this report is static. If you want an update or a different stock, you can get one here Unlimited Real-Time Reports.