Breakout trade in SHOP
Shopify needs no introduction. If you bought something online from anywhere other than Amazon, the sale probably ran through Shopify.
The stock is up 175% since October and proving to be a market leader.
The recent action shows shallowing retracements on declining volume – a textbook breakout pattern or "VCP Pattern" as described by Mark Minervini
I would consider buying on a move above $66.60 with a stop loss at $61.00 to risk roughly 8% on the trade.
The stock is up 175% since October and proving to be a market leader.
The recent action shows shallowing retracements on declining volume – a textbook breakout pattern or "VCP Pattern" as described by Mark Minervini
I would consider buying on a move above $66.60 with a stop loss at $61.00 to risk roughly 8% on the trade.
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