EN
Takip Edin: @UscMarketsSHOP Stock Forecast & Shopify Chart Analysis
This article provides a detailed analysis of SHOP-Shopify Inc. stock including a forecast for SHOP shares. It features Shopify Inc. technical analysis, support and resistance levels, financial report evaluations, buy and sell signals based on simple moving averages and MACD, and artificial intelligence-assisted target price predictions
Stocks can be purchased through banks, brokerage firms, investment funds, and individual retirement systems.
SHOP Historical Data Review
SHOP Current Price Performance Analysis
The Shopify - SHOP stock traded on the American stock market, on 06-05-2024, closed at 61.25$ with a %0.94 increased compared to the previous day.
In the last month, the price of SHOP changed by %-20.83 decreased in value, from 77.37 dollars on 05-06-2024 to 61.25 dollars, decreased.
Last year, the price of SHOP was 63.66 dollars on 06-06-2023, and changed by %-3.79 decreased in value, to 61.25 dollars decreased within a year.
The price of Shopify stock is below both the 50-day and 100-day moving averages. Looks a bit grim for the medium and long term. Investors might want to tread carefully here, maybe give those risk strategies another once-over.
SHOP with AI Stock Forecast & Price Target
On the SHOP chart Shopify price was recorded as 61.25 Dollars on 06/05/2024.
The artificial intelligence's forecast on SHOP stock is as follows.
The artificial intelligence's prediction error margin for SHOP stock is moderately high.
There are two types of risk factors in the artificial intelligence's targets: timing and target prices.
For example, the target price for one month later may be realized three months later. But there is no guarantee of this.
The average predicted price for Shopify stock over the next 4 months is: 113.7 Dollars.
The commentary on SHOP stock Target Price: Highest: 137.951 Dollars is predicted.
The commentary on SHOP stock Target Price: Lowest: 85.47 Dollars is predicted.
Resistance Price where Shopify stock will Rise and Fall:
| Date | Price Prediction |
|---|---|
| 07-10-2024 | 92.406 |
| 11-07-2024 | 137.951 |
| 02-20-2025 | 124.750 |
Support Price where Shopify stock will Fall and Rise:
| Date | Price Prediction |
|---|---|
| 07-15-2024 | 92.337 |
| 01-16-2025 | 112.043 |
| 03-17-2025 | 104.227 |
The commentary on SHOP stock: The target price can generally be said to be on the rise.
The commentary on SHOP stock: Fluctuations in the target price can be expected in the coming days.
The target price for Shopify stock by the end of 2024 is predicted to be 123.152 Dollars.
The price prediction graph prepared with the help of artificial intelligence, the commentary on SHOP stock, and the 2024 target price predictions for Shopify are detailed above.
The technical analysis and charts for the commentary on SHOP stock are below.
SHOP Support & Resistance and Trend Analysis
SHOP stock you have reviewed the technical analysis support resistance charts regarding.
SHOP : Targeting Support and Resistance Price Levels
According to the algorithmic analysis results related to the SHOP review, the Shopify support and resistance prices are as follows.
Support and resistance levels on the chart are not absolute. They may vary depending on market conditions and macroeconomic indicators.
Shopify Support and Resistance Prices:
| SHOP Support Level Price | SHOP Resistance Level Price |
|---|---|
| 56.31 | 61.70 |
| 58.65 | 77.82 |
| 68.01 | 77.95 |
| 70.04 | 79.80 |
| 70.61 | 79.99 |
| 72.64 | 83.36 |
| 73.85 | 83.39 |
| 75.82 | 91.44 |
| 91.57 |
SHOP Technical Analysis: SMA, RSI, MACD
Upon reviewing the SHOP chart, buy and sell signals have been generated in the Shopify technical analysis with technical indicators. There are over 100 technical indicators in the market. Each technical indicator can produce different signals.
However, please remember that technical analysis is only a tool and exact results cannot be guaranteed.
On The technical analysis chart and stock comments for SHOP stock are as follows:- SHOP technical analysis indicates that the 14-period RSI has most recently generated a 'Buy' signal.
- The technical analysis for Shopify gave a 'Buy' signal when the RSI was at 27.221, with the current RSI value at 60.653.
- The technical analysis for SHOP indicates that the MACD indicator (with parameters 9, 12, 26) has most recently generated a 'Buy' signal.
- The technical analysis for Shopify issued a 'Buy' signal when the MACD was at -3.699, with the current MACD value being: -2.322
Basic Technical Analysis Tips for Financial Markets
- Moving averages may not yield reliable results in stagnant, sideways markets.
- According to MACD technical analysis, the most optimal buying opportunity is a 'Buy' signal given when the MACD is below the 0 level.
- An RSI crossing below 70 is used as a sell signal, and a crossing above 30 is used as a buy signal.
- During a strong upward trend, the RSI can rise above 70 and stay there.
- No indicator is perfect. Having indicators corroborate each other can increase the chances of success.
- Instead of fully relying on these indicators for your investment decisions, it is recommended to conduct a comprehensive analysis and consult a professional financial advisor.
You have read the comments, technical analyses, target prices, and financial reports for Shopify stock: Click here to read more predictions on Nippon Telegraph and stock.
Click here for price target predictions and technical analysis charts of other American stocks