Just a few comments:
I have a price target north of $1800 by early first quarter next year (SHOP might get there sooner, say Dec 2021)
There is a significant volume node around yesterday's close $1538 (using daily Heikin Ashi chart). And a larger node near the Pivot point P, at $1470.
The extended ytd linear regression line runs through $1470 in early September.
I won't be surprised to see the price trajectory continue on a parabolic up curve, or to suddenly show a "reversion to the mean".
Near-term, for trading purposes, I'm bullish $1470 or lower, and defensive above $1550. Long-term I'm bullish.
I currently have a defensive bias based on broader market levels. Also, I was overly bullish (and exposed) during the February and March sell-off in SHOP.
I have a price target north of $1800 by early first quarter next year (SHOP might get there sooner, say Dec 2021)
There is a significant volume node around yesterday's close $1538 (using daily Heikin Ashi chart). And a larger node near the Pivot point P, at $1470.
The extended ytd linear regression line runs through $1470 in early September.
I won't be surprised to see the price trajectory continue on a parabolic up curve, or to suddenly show a "reversion to the mean".
Near-term, for trading purposes, I'm bullish $1470 or lower, and defensive above $1550. Long-term I'm bullish.
I currently have a defensive bias based on broader market levels. Also, I was overly bullish (and exposed) during the February and March sell-off in SHOP.