Friday, August 23, 2019 12:26:49 PM
Shares of Shopify Inc (SHOP) popped early, making a new all-time high at $401.16. However, within an hour, the stock was back to its lows of the day, putting in an epic technical topping tail. This is a major top signal for investors looking to short the stock. In addition, the brief cross of $400 as an even number adds fuel to the sell signal. Shopify Inc will likely fall to $340 in the near-term.
Gareth Soloway
InTheMoneyStocks
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