August 9, 2024, 3:20 PM ET, BY Quentin W. – Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer-term trading plans for SHOP

• Buy SHOP just above 57.18 Target 70.28 Stop-Loss @ 57.01 Details

The technical summary data tells us to buy SHOP at 57.18 with an upside target of 70.28. This data also tells us to set a stop loss at 57.01 to protect ourselves from excessive losses in case the stock starts moving against the trade. 57.18 is the first support level below 68.6 and according to the rule, any test of support is a buy signal. In this case, the support at 57.18 would be tested, so a buy signal would be present.

• Short SHOP just below 70.28, target 57.18, stop loss at 70.48 Details

The technical summary data suggests a short of SHOP as it approaches 70.28, with a downside target of 57.18. However, we should place a stop loss at 70.48. 70.28 is the first resistance level above 68.6, and any test of resistance is usually a short signal. In this case, a short signal would be present if the 70.28 resistance is tested.

Swing Trading Plans for SHOP

• Buy SHOP just above 70.28, target 83.42, stop loss at 70.08 Details

If 70.28 starts to rise, the technical summary data tells us to buy SHOP just above 70.28, with an upside target of 83.42. The data also tells us to set a stop loss at 70.08 in case the stock turns against the trade. 70.28 is the first resistance level above 68.6, and any break above resistance is usually a buy signal. In this case, 70.28, 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 70.28, target 64.95, stop loss at 70.48. Details

The technical summary data suggests a short of SHOP if it tests 70.28 with a downside target of 64.95. However, we should place a stop loss at 70.48 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 70.28 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 70.28, target 72.05, stop loss at 70.12 Details

If 70.28 starts to rise, the technical summary data tells us to buy SHOP just above 70.28, with an upside target of 72.05. The data also tells us to set a stop loss at 70.12 in case the stock turns against the trade. 70.28 is the first resistance level above 68.6, and any break above resistance is usually a buy signal. In this case, 70.28, 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 70.28, target 64.95, stop loss at 70.44. Details

The technical summary data suggests a short of SHOP if it tests 70.28 with a downside target of 64.95. However, we should place a stop loss at 70.44 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 70.28 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 reviews for August 09:

AI-generated signals for SHOP

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When #institutionalinvestors When people make decisions to buy and sell #stocks, they usually want to keep them secret. However, if we pay close attention, we can see what’s going on and make good decisions. Shopify Inc., Subordinated Class A (NASDAQ:SHOP) The following report can help you understand this. The trading plans for SHOP are updated in real-time for subscribers, but this report is static. If you want an update or a different report on any other stock, get it here: Unlimited Real-Time Reports.