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Shopify Inc.(SHOP:NASDAQ) Elliott Wave Technical Analysis 17 March 23

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Shopify Inc., Elliott Wave Technical Analysis

Shopify Inc.,(SHOP:NASDAQ): Daily Chart, 17 March 23,

SHOP Stock Market Analysis: the overall count has not changed since the last update. We are still looking for further downside into wave (v). the alternate would be a three wave move to the upside to then resume lower.  

SHOP Elliott Wave Count:  Wave (iv) of {i}.

SHOP Technical Indicators: At the cross of 20 and 200EMA.

SHOP Trading Strategy: Waiting for a potential triangle in wave (iv).

TradingLounge Analyst: Alessio Barretta




Shopify Inc., SHOP: 4-hour Chart, 17 March 23,

Shopify Inc., Elliott Wave Technical Analysis SHOP Stock Market Analysis: The initial move higher into wave (iv) appear to be a three wave move which gives us confirmation we are in a corrective structure. Looking for a sideways movement to confirm the count, without breaking the red line.  

SHOP Elliott Wave count:  Wave (iv) of {i}.

SHOP Technical Indicators: Aboe all averages.  

SHOP Trading Strategy: Looking for sideways continuation in wave (iv).


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