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Shopify Inc.(SHOP:NASDAQ) Elliott Wave Technical Analysis November 25 2022


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Shopify Inc., Elliott Wave Technical Analysis

Shopify Inc., (SHOP:NASDAQ): 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 having 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.

TradingLounge Analyst: Alessio Barretta

 

SHOP_11_25.thumb.png.8303bfe9fd3f1894368f8d5903c6b3e2.png

 

 

 

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 lookfor 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 volumeat just above 31$.

SHOP Trading Strategy:Looking for the pullback in wave (b) to retrace deeper to then eventuallylook for short term shorts.

SHOP_4h.thumb.png.2a4009e06acd53b500ff303635b72235.png

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