$SHOP - RC -
Added 2023-10-23 21:15:34 +0000 UTC$SHOP appears to be following many of the Mega Caps and large stocks in its structure right now.
Except it has lost its 200 Day MA but has managed to stay between its 0.38 Fib and 0.5 Fib, the normal support level for Wave 4 is at the 0.38 Fib but can go down to the 0.5 Fib if the market has shown weakness and that is what we are seeing here.
A breakdown below the 0.5 Fib would certainly put $SHOP in a difficult position.
Otherwise, if the market can rise after tomorrow from positive earnings, then this will likely move higher to complete Wave 5 to towards the EOY.
