01/10/2021
Blue Chip Daily Chart of the Week:
Shopify, SHOP
Close: 1188.92
Stop level for position traders and investors: 998.69
please see chart analysis below
- Shopify (SHOP) is one of our top technical ideas this week, and is on this Week’s Top 25 Stocks List, published for Members this morning.
- SHOP is in a technical uptrend above all key rising moving averages, indicating an uptrend on multiple time frames.
- SHOP recently corrected 16.2% off of all-time highs, into the rising 50-sma and a key longer-term support base.
- 1000-1050 is key support on any pullbacks, and a close over 1300 could signal a new leg higher.
Disclosures:
- I am currently long SHOP since 11/30/20 at $1043.77.
- SHOP is on our Top 25 stocks for 2021 List, published for Members, last Saturday and was our 11/30/20 Chart of the Day.
Last week was a record week for Blue Chip Daily Members, please se the Blog and Video below:
BLOG:https://bluechipdaily.com/record-week-bcd-members/
YOUTUE VIDEO: https://youtu.be/sS7cJeFncYc
Have a great week,
Larry Tentarelli
Publisher
