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10/06/21 10:53
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By tradinglounge · Posted
Shopify Inc., Elliott Wave Technical Analysis Shopify Inc., (SHOP:NYSE): Daily Chart, August 16, 2022, SHOPStock Market Analysis: Looking for continuation lower into wave {v}. Potential wave {iv} is taking quite some time which could have been predicted due to the fact that wave {ii} was a sharp correction therefore because of the rule of alternation wave {iv} had to be time consuming. SHOP Elliott Wave count:  Wave (c of {iv}. SHOPTrading Strategy: Waiting for further confirmation to start building shorts. We need to break wave iv of (c. SHOPTechnical Indicators:We are well below the 200 EMA and we are starting to form RSI bearish divergence. SHOPLatest News: Shopify Inc. (SHOP) is Attracting Investor Attention: Here is What You Should Know(Zacks Equity Research) TradingLounge Analyst: Alessio Barretta  ShopifyInc., SHOP: 4-hour Chart, August 16 2022, Shopify Inc., Elliott Wave Technical Analysis SHOP Stock Market Analysis: Looking for further downside to start wave (i) of {v}. SHOPElliott Wave count: Wave (i) of {v}. SHOP Technical Indicators: We barely touched the 200 EMa and found resistance from it. Looking for a break and a retest of the 20 EMA( red line). SHOPTrading Strategy: Waiting for additional confirmation i.e. the break of wave iv of c) .
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