Technical indicator strong sell !

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Technical indicator strong sell !

sunshineboy
2023-03-20

Shopify invested aggressively in growth during the pandemic, but was caught flatfooted when consumer spending shifted due to the reopening of physical stores and inflation. Management overspent on growth initiatives, cutting into profitability.

First of all the LRC is sloping downward which is bearish, & the pattern looks like it is forming an H&S. There is a gap at 32.40 & 50.18, so it looks like the lower one fills first. It tried to break out of the triangle once & failed & looks to do it again. The BB's are converging but the alligator is pointing down indicating a big move, but down. StochRSI has topped out, & breadth is falling, but the macd turned positive so it could see a couple of points up before the fall. It is in an impulse Elliott wave B right now but after that comes the corrective C & the fall. Use your stops.

$Shopify(SHOP)$

# Technical Analysis

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st16
·2023-03-20
ok
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PKJCHIA
·2023-03-20
ok
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jaebeompark
·2023-03-20
ok
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Fiona888
·2023-03-20
k
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PowerTrade
·2023-03-20
ok
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StreetCat
·2023-03-20
🙏
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75th
·2023-03-20
why?
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LGC1956
·2023-03-20
Ok
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Tigon
·2023-03-20
ok
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Invest 1 2 3
·2023-03-20
Okay
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HAN8
·2023-03-20
Thks
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tauh
·2023-03-20
[Miser]
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Fayedea
·2023-03-20
Great
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Wtt
·2023-03-20
k
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candyysk
·2023-03-20
Ok
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Management overspent on growth initiatives, cutting into profitability.First of all the LRC is sloping downward which is bearish, &amp; the pattern looks like it is forming an H&amp;S. There is a gap at 32.40 &amp; 50.18, so it looks like the lower one fills first. It tried to break out of the triangle once &amp; failed &amp; looks to do it again. The BB's are converging but the alligator is pointing down indicating a big move, but down. StochRSI has topped out, &amp; breadth is falling, but the macd turned positive so it could see a couple of points up before the fall. It is in an impulse Elliott wave B right now but after that comes the corrective C &amp; the fall. 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It is in an impulse Elliott wave B right now but after that comes the corrective C &amp; the fall. Use your stops.<img src=\"https://community-static.tradeup.com/news/57650cd2e4cb384bfd3eabd6f7fa2a1c\" tg-width=\"-1\" tg-height=\"-1\"><a href=\"https://ttm.financial/S/SHOP\">$Shopify(SHOP)$</a> </body></html>","text":"Shopify invested aggressively in growth during the pandemic, but was caught flatfooted when consumer spending shifted due to the reopening of physical stores and inflation. Management overspent on growth initiatives, cutting into profitability. First of all the LRC is sloping downward which is bearish, & the pattern looks like it is forming an H&S. There is a gap at 32.40 & 50.18, so it looks like the lower one fills first. It tried to break out of the triangle once & failed & looks to do it again. The BB's are converging but the alligator is pointing down indicating a big move, but down. StochRSI has topped out, & breadth is falling, but the macd turned positive so it could see a couple of points up before the fall. It is in an impulse Elliott wave B right now but after that comes the corrective C & the fall. Use your stops. 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