Shopify Inc. (NYSE:SHOP): Caution Is Advised (2019-11-28)

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REPORTING FOR 2019-11-28 | WCX19.ORG: We have done an in-depth analysis of how SHOP has been trading over the last 2 weeks and the past day especially. On its latest session, Shopify Inc. (NYSE:SHOP) opened at 337.51, reaching a high of 342.65 and a low of 330.08 before closing at a price of 341.0. There was a total volume of 2413214.

VOLUME INDICATORS FOR SHOPIFY INC. (NYSE:SHOP): We saw an accumulation-distribution index of 1693.10829, an on-balance volume of -336.19, chaikin money flow of 3.89105 and a force index of 424.9968. There was an ease of movement rating of 0.71643, a volume-price trend of 4.52036 and a negative volume index of 1000.0.

VOLATILITY INDICATORS FOR SHOPIFY INC. (NYSE:SHOP): We noted an average true range of 9.51268, bolinger bands of 341.96478, an upper bollinger band of 305.19522, lower bollinger band of 330.08, a bollinger high band indicator of 1.0, bollinger low band indicator of 1.0, a central keltner channel of 336.74667, high band keltner channel of 331.60667, low band keltner channel of 341.88667, a high band keltner channel indicator of 1.0 and a low band keltner channel indicator of 1.0. There was a donchian channel high band of 330.08, a donchian channel low band of 330.08, a donchian channel high band indicator of 1.0, and a donchian channel low band indicator of 1.0.

TREND INDICATORS FOR SHOPIFY INC. (NYSE:SHOP): We calculated a Moving Average Convergence Divergence (MACD) of -0.29167, a MACD signal of -0.16204, a MACD difference of -0.12963, a fast Exponential Moving Average (EMA) indicator of 330.08, a slow Exponential Moving Average (EMA) indicator of 330.08, an Average Directional Movement Index (ADX) of unknown, an ADX positive of 20.0, an ADX negative of 20.0, a positive Vortex Indicator (VI) of 1.0, a negative VI of 1.0, a trend vortex difference of 2.27436, a trix of 1.95435, a Mass Index (MI) of 1.0, a Commodity Channel Index (CCI) of -66.66667, a Detrended Price Oscillator (DPO) of -4.21571, a KST Oscillator (KST) of 12.937 and a KST Oscillator (KST Signal) of 12.937 (leaving a KST difference of -9.97348). We also found an Ichimoku rating of 340.08, an Ichimoku B rating of 340.08, a Ichimoku visual trend A of 338.53502, an Ichimoku visual trend B of 337.13233, an Aroon Indicator (AI) up of 4.0 and an AI indicator down of 4.0. That left a difference of -4.0.

MOMENTUM INDICATORS FOR SHOPIFY INC. (NYSE:SHOP): We found a Relative Strength Index (RSI) of 50.0, a Money Flow Index (MFI) of 100.0, a True Strength Index (TSI) of 100.0, an ultimate oscillator of 36.19966, a stochastic oscillator of 244.55253, a stochastic oscillator signal of 244.55253, a Williams %R rating of 144.55253 and an awesome oscillator of -3.23537.

RETURNS FOR SHOPIFY INC. (NYSE:SHOP): There was a daily return of 1.2937, a daily log return of -4.01809 and a cumulative return of -3.93844.

What the heck does all of this mean? If you are new to technical analysis, the above may be gibberish to you, and that’s OK (though we do advise learning these things). The bottom line is that AS OF 2019-11-28 (if you are reading this later, the analysis will be out of date), here is what our deep analysis of technical indicators are telling us for Shopify Inc. (NYSE:SHOP)…

DISCLAIMER: We are not registered investment advisers and the above analysis should be taken at face value only. We strongly advise against buying or selling Shopify Inc. (NYSE:SHOP) based solely on our analysis above, and are not responsible for any losses that you may incur if you choose make any investment decisions based on the above.