SHOP has become interesting after earnings; Consumer Sentiments however is worrying.

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SHOP has become interesting after earnings; Consumer Sentiments however is worrying.

Asphen
05-11

Price Action Update (11 May 2024)

- Post earnings reaction high was 79 and low was 62

- Coincidentally, 62 was also near the Fib 61.8 level of 63 in pullback

- It has since broken down below the earnings low and also into the golden pocket (between 61.8 and 78.6)

- Good time to look for reversals

Support Levels

- 55 (Fib 78.6)

- 46 (Full retrace)

IV Crush

- Means selling puts will not yield good premium due to post earnings IV crush

Will be patient and nibble from 55 down to 46.

Good luck, all!

SHOP Daily - 11 May 2024

@melson @TigerStars @macroB @CaptainTiger @Deposit

$Shopify(SHOP)$

# 💰 Stocks to watch today?(25 Nov)

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melson
·05-11
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getting crowded
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- Asphen:
  yup. but a good level is good value
  05-11
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Deposit
·05-12
noted
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- Asphen:
  yay!
  05-12
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What news/movements are worth noting in the market today? Any stocks to watch? \n2. What trading opportunities are there? Do you have any plans?\n🎁 Make a post here, everyone stands a chance to win Tiger coins!","image":"https://static.tigerbbs.com/cd8eaff2e99964ab7a80d92cc196fcd3"}],"images":[{"img":"https://community-static.tradeup.com/news/41e37a870d47683cb71ee81eac020886","width":"1280","height":"653"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/41e37a870d47683cb71ee81eac020886","width":"1280","height":"653"}],"title":"SHOP has become interesting after earnings; Consumer Sentiments however is worrying.","html":"<html><head></head><body> \n<h3>Price Action Update (11 May 2024)</h3>\n- Post earnings reaction high was 79 and low was 62\n- Coincidentally, 62 was also near the Fib 61.8 level of 63 in pullback\n- It has since broken down below the earnings low and also into the golden pocket (between 61.8 and 78.6)\n- Good time to look for reversals\n \n<h3>Support Levels</h3>\n- 55 (Fib 78.6)\n- 46 (Full retrace)\n \n<h3>IV Crush</h3>\n- Means selling puts will not yield good premium due to post earnings IV crush\n \nWill be patient and nibble from 55 down to 46.&nbsp;\n \nGood luck, all!\n<img src=\"https://community-static.tradeup.com/news/41e37a870d47683cb71ee81eac020886\" tg-width=\"1280\" tg-height=\"653\">SHOP Daily - 11 May 2024\n<a href=\"https://ttm.financial/U/4123471905369072\">@melson </a>&nbsp;<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars </a>&nbsp;<a href=\"https://ttm.financial/U/3560858852313727\">@macroB </a>&nbsp;<a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger </a>&nbsp;<a href=\"https://ttm.financial/U/3577700186071729\">@Deposit </a>&nbsp;\n<a href=\"https://ttm.financial/S/SHOP\">$Shopify(SHOP)$&nbsp;</a>&nbsp;</body></html>","htmlText":"<html><head></head><body> \n<h3>Price Action Update (11 May 2024)</h3>\n- Post earnings reaction high was 79 and low was 62\n- Coincidentally, 62 was also near the Fib 61.8 level of 63 in pullback\n- It has since broken down below the earnings low and also into the golden pocket (between 61.8 and 78.6)\n- Good time to look for reversals\n \n<h3>Support Levels</h3>\n- 55 (Fib 78.6)\n- 46 (Full retrace)\n \n<h3>IV Crush</h3>\n- Means selling puts will not yield good premium due to post earnings IV crush\n \nWill be patient and nibble from 55 down to 46.&nbsp;\n \nGood luck, all!\n<img src=\"https://community-static.tradeup.com/news/41e37a870d47683cb71ee81eac020886\" tg-width=\"1280\" tg-height=\"653\">SHOP Daily - 11 May 2024\n<a href=\"https://ttm.financial/U/4123471905369072\">@melson </a>&nbsp;<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars </a>&nbsp;<a href=\"https://ttm.financial/U/3560858852313727\">@macroB </a>&nbsp;<a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger </a>&nbsp;<a href=\"https://ttm.financial/U/3577700186071729\">@Deposit </a>&nbsp;\n<a href=\"https://ttm.financial/S/SHOP\">$Shopify(SHOP)$&nbsp;</a>&nbsp;</body></html>","text":"Price Action Update (11 May 2024) - Post earnings reaction high was 79 and low was 62 - Coincidentally, 62 was also near the Fib 61.8 level of 63 in pullback - It has since broken down below the earnings low and also into the golden pocket (between 61.8 and 78.6) - Good time to look for reversals Support Levels - 55 (Fib 78.6) - 46 (Full retrace) IV Crush - Means selling puts will not yield good premium due to post earnings IV crush Will be patient and nibble from 55 down to 46. Good luck, all! 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