$Shopify(SHOP)$ 🚀🔥📈 Shopify Ignites After Earnings: All Gas, No Brakes 📈🔥🚀
I’m watching Shopify detonate past major resistance with a surge that’s nothing short of textbook earnings momentum. This isn’t just a relief rally; it’s a high-volume liquidity flush triggering a full-blown credibility reset. $SHOP’s weekly candle just blasted through $128.15 and $136.95, landing in open-air territory where price discovery can get violent.
Macro Fibonacci Roadmap (Swing Low $96.24 → Swing High $155.85)
• 0.382 retrace: $140.16 (first re-test zone if momentum cools)
• 0.5 retrace: $126.05 (deep pullback support)
• 0.618 retrace: $111.94 (trend invalidation pivot)
• 1.272 extension: $182.27 (aggressive breakout target)
• 1.618 extension: $201.78 (parabolic stretch target)
Micro Fibonacci Roadmap (4H Breakout Leg $124.28 → $155.85)
• 0.236 retrace: $148.59 (first intraday support for scalp re-entries)
• 0.382 retrace: $144.69 (key pivot for short-term buyers to defend)
• 0.5 retrace: $140.07 (stronger dip-buying zone)
• 0.618 retrace: $135.45 (intraday trend invalidation)
• 1.272 extension: $166.64 (next breakout target)
• 1.618 extension: $172.21 (stretch upside level)
Trade Plan:
If $SHOP holds above $146.44 on a closing basis, I’m targeting a retest of $155.85, then $166.64 in the short-term and $182.27 over the next 1–3 cycles. If bulls reclaim $155.85 with conviction, $172.21 and $201.78 become the stretch targets. Tighten stops below $144.69 intraday or $140.16 for swing positions.
The Keltner and Bollinger bands are exploding outward on all timeframes; signalling an open runway for continuation. MACD histogram expansion and elevated RSI confirm that momentum is in strong hands; this is where traders make their quarter if they stay disciplined.
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Great article, would you like to share it?
Great article, would you like to share it?