SHOP HAS RALLIED ABOUT 270% SINCE THE MARCH, 2020 LOW. NOW SHOP IS NEARING COMPLETION OF A RISING-WEDGE TERMINAL PATTERN. ALSO KNOWN AS AN ENDING DIAGONAL. WE EXPECT SELLING PRESSURE IN SHOP TO BEGIN TO ROLL-OVER AND THEN ACCELERATE DOWNWARD, INITIALLY INTO THE $800 TO $850 RANGE.
Trade fechado: objetivo atingido:
First Target reached at $922
Second Target at $898 is about where SHOP Bottomed today.
Third Target: $865, not yet reached.
Second Target at $898 is about where SHOP Bottomed today.
Third Target: $865, not yet reached.
Comentário:
3rd TARGET REACHED TODAY!!!!!!!!!
This is a good area to cover short positions and sell out of puts.
$800 to 850 was our primary target area on our chart.
There is still room for SHOP to continue declining.
Keep in mind that SHOP went from about $300 in March to $1146 on September 1st.
This is a good area to cover short positions and sell out of puts.
$800 to 850 was our primary target area on our chart.
There is still room for SHOP to continue declining.
Keep in mind that SHOP went from about $300 in March to $1146 on September 1st.
dropped so far about $250 and consolidating.