Shopify stock: buy or sell

SHOP stock price: $1,538.00 -1.10% At close on Jul 28th, 2021

Updated on:
Jul 29th, 2021

2

Shopify stock brief

  • After marking new highs last Monday, Shopify closed at $1,538.00 going down a -1.10%
  • On Wednesday, Shopify posted its Q2 financial report
  • The stock is configuring an uptrend pattern since last March, when it bottomed at $1,005.14. Up to date, the uptrend made a 53.01% gain since the beginning of this rally
  • Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally.

Should I buy Shopify stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $SHOP stock a buy?

Currently, Shopify stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $SHOP in coming sessions, or that it may not rise higher. Simply, it doesn't match our recommended trading systems

Should I sell Shopify stock?

Knowing when to sell a stock is even more difficult than knowing when to buy it. Trading strategies prevent us from making rash decisions based on our emotions or the buzz that surrounds the market. When selling, as well as buying, our setups are very simple to follow and are only applicable for selling shares you already own, not for shorting $SHOP stock

A guiding principle is that you should never mantain an investment that shows a higher than expected losses at the time of purchase. The moment to sell your stock always has to be determined by the stop-loss (automatic or manual)

Is it time to sell Shopify stock?

Currently, Shopify stock doesn't match any of our preferred sell setups, so if you own Shopify shares and your operation is in profit probably is not time to sell now

Shopify ratings

We don't have any rating posted in the last 30 days for Shopify

Shopify stock analysis

Since last March, Shopify has been printing an uptrend that so far marked a gorgeous 53.01%. During this uptrend, the price offered some entry points on the breakouts. Latest pullback was in early June, when price bounced at $1,182.50. Now, the price swings in a consolidation between its last top ($1,650.00) and its last bottom ($1,182.50)

$SHOP at new Highs

Last Monday, Shopify reached new all-time highs (ATH) again at $1,650.00

SMAs overview

SHOP stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $1,650.00 (7.28% above)
  • The current supports are:

  • S1: $1,499.75 (-2.49% below)
  • S2: $1,301.61 (-15.37% below)
  • S3: $1,285.19 (-16.44% below)
  • Bollinger bands

    Since the price surpassed the upper band last Friday, the price sliced by 6.79%

    SHOP stock Bollinger Bands chart

    Relative strength index

    The RSI dropped below the overbought level of 70 last Monday after just crossing to the overbough zone for a single day (weak signal). The RSI value on Wednesday was 56.48

    SHOP stock RSI chart

    Shopify stock price history

    Shopify went public priced at an adjusted price1 of $28.00 on May 2015. Since then, SHOP stock surged by 5,392.86%, with an average of 898.81% per year. An investment of $1,000USD on May 2015 would worth $54,928.57 nowadays.

    1: Adjusted price after possible price splits or reverse-splits

    SHOP stock price history chart

    Price target for Shopify stock

    Nobody knows how much a share will be priced in the future. Banks and financial organisations publish their analysis forecasting how a particular stock will performance in the future.

    Along with buy or sell recommendations, financial institutions publish their price predictions based on the stock price action and the company fundamental data. Most of these predictions follow the publication of new fundamental data by the company, and usually. If you are a small investor you must not buy or sell based on these price targets.

    In the last 30 days we couldn't find any price target posted for Shopify stock.

    Earnings and financials

    Earnings event was hosted by Shopify ($SHOP) on Wednesday after releasing the financial report. The company published earnings of $2.24 per share, significantly upping the Market consensus estimate of $0.97 per share.

    Same quarter one year ago, reported EPS was $1.05, so recently posted EPS is an increase of 113.33%. Looking at sales, figures exploded a 110.35% compared to $4.7B year over year.

    Shopify ($SHOP) is hosting the Q3 earnings call next October.

    Shopify performance

    SHOP performance compared
    Company1m3m6m
    Shopify ($SHOP) 2.70% 18.40% 38.50%

    Important note:
    The viewpoints written in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this text does not have any knowledge of the specific situations of the reader, his or her own finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are provided for informational motives only

    Shopify summary

    Wednesday, July 28th, 2021
    Open$1577
    Close$1538
    Day range$1497.03 - $1583.15
    Previous close$1555.1
    Session gain-1.10%
    Average true range$79.12
    50d mov avg$1,388.51
    100d mov avg$1,261.61
    200d mov avg$1,197.59
    Earnings dateOctober 27th, 2021

    Frequently asked questions

    What is Shopify stock symbol?

    Shopify Inc. is a public company trading in the US stock market with the SHOP symbol

    Is Shopify stock a buy or sell?

    Shopify had no ratings in the last 4 weeks Read the article to get additional tips on trading SHOP stock.

    Will SHOP go up?

    There were no forecasts issued by market analysts in the last 30 days for Shopify.