$SHOP
Added 2024-02-13 18:16:46 +0000 UTC$SHOP hit our Wave 5 target at the 2.618 Fib today and rejected hard, in spite of a double beat.
In the last hour, the price has also lost the 50 Day MA too as a potential support level but it has plenty of time to recover this level at $78.32 today.
I have added in the large ABC correction Fib levels now, in case this is the start of its Primary Wave 2 pull back and I think many members would like to pick this up if the price got down to the 0.5 Fib at $57 or even lower.
The 200 Day MA is potentially a strong support level and that is moving to the 0.38 Fib at $65, this would be a level of interest too.
Comments
I have been watching this closely. The pull back seems irrational. My personal experience with this company has been very good and its business model is serious competition to PYPL. I need to do more research but so far have been impressed.
Minus0
2024-02-13 19:36:18 +0000 UTCI know we don't deal in time periods, we deal in support levels etc, but what is a likely time periods for a primary wave 2 pullback like this? Is it possible it could happen in 2 weeks and begin wave 3, or are we expecting it to take a couple of months? Not looking for a strict rule here, just what is likely from your experience?
Jesse Gaffey
2024-02-13 18:24:15 +0000 UTC
