We start off today by gaining our bearings on where the market is at. Before you do any analysis on any stock in particular, you need to look at the overall market to see where it’s at and where it could be headed. Check it out below!
For our stock today, it is one we have looked at pretty recently in the past. E-commerce platform, Shopify (SHOP), broke above key resistance at $45 after a long drawn out inverse head and shoulders pattern. As you can make out from looking at the chart, this level had proved to be very important for the stock. This break of $45 now means that a pullback down to that mark may be setting up for a possible long play.
Watch the video to find out more!…
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