$SHOP TOP 20
Added 2024-08-07 12:31:38 +0000 UTC$SHOP is up +18% in the PM now after a strong report across the board, with no issues or concerns and healthy guidance.
We can see clearly now that the 0.618 Fib has the support level at $49 and the price is already at $64 now
So the next question will be, where do I add?
The bounce is likely not complete now so we will likely see some resistance and the 50 or 200 Day MA at $62.60 or the 200 Day MA at $69.60, since the price is already above the 50 Day MA, we will consider for now that resistance will come at the 200 Day MA at $69.60, so I have added in the white Fib levels from this point to show where the pull back can come to
Noticing that the 0.38 Fib at $61.66 aligns with the yellow support line and the 50 Day MA, so this is a confluence level and where we will be watching for support, a hold here and we add, that's all we need to do.
If the price comes lower to the 0.618 Fib at $56.70 and it holds here, then we take advantage but as we know, there will be a pull back.
