$SHOP
Added 2023-10-31 12:29:07 +0000 UTCIs a very popular stock and is seen as a potential Mega Cap stock in the future and came very close to it during its highs in 2021.
But it has suffered a lot since and the hype was not matched by revenue and this came down.
It is now at a crossroads.
It needs to hold the above the red line at $45. And it has its earnings report this Thursday too. So it needs to be strong because if there is any weakness, this is coming down below the red line and the bulls were not able to hold the impulse wave.
Losing this line and it is at risk of coming all the way down to the bottom blue line again at $23.
For me, if $SHOP got anywhere near as low as that, I would certainly be happy to add this as a long term hold and consider this is my Top 20 list.
