The Long Investor
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$SHOP TOP 20
🕑 Added 2025-02-23 17:16:07 +0000 UTC$SHOP has pulled back this week with the market and so far following an rising wedge, we can see that the 50 Day MA has aligned with the rising wedge bottom line too at $113, so this is an important level for the bulls to hold onto this week.
$SHOP has been highly correlated with $AMZN, so a decline by $AMZN this week likely induced a similar reaction with $SHOP.
All being said, if $113 is lost then we are looking at a drop down to the lower wedge and fib levels with the first test at $99
Ideally we would like to see a drop down into the Buy Zone below $99 - $90
