$SHOP
Added 2023-08-18 17:45:16 +0000 UTCThe mighty Shop is even showing weakness and remember they were one of the first to report earnings on the 2nd of August and they smashed it, increasing earnings by 117%....but no company is safe and immune from this selling pressure.
Price has fallen out of this channel which is a concern but we can see that it is approaching the 200 Day MA now at $49.50....this would still validate Wave 4. If this level is lost, it is certainly showing weakness.
We can see on the pull back from $71, this formation is very typical right now....a very strong aggressive pull back and this is across the board and in a number of markets....which leads me to believe that this is not particularly a companies fault, but the market at large.
