Shopify stock: buy or sell
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
Supports and resistances
The current resistances are:
The current supports are:
Bollinger bands
Since the price surpassed the upper band last Friday, the price sliced by 6.79%
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
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 $54,928.57 nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Shopify stock
Nobody knows how much a share will be priced in the future. Banks and financial organisations publish their analysis forecasting how a particular stock will performance in the future.
Along with buy or sell recommendations, financial institutions publish their price predictions based on the stock price action and the company fundamental data. Most of these predictions follow the publication of new fundamental data by the company, and usually. If you are a small investor you must not buy or sell based on these price targets.
In the last 30 days we couldn't find any price target posted for Shopify stock.
Earnings and financials
Earnings event was hosted by Shopify ($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
| Company | 1m | 3m | 6m |
|---|---|---|---|
| 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 onlyShopify 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 date | October 27th, 2021 |