Shopify strong imbalance for long term positions
31 Jan 2020
Shopify Inc., a commerce company, provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces.
Shopify forecast. Very strong imbalance created
Shopify (NYSE: SHOP) has broken all time high and created a very strong imbalance on the monthly timeframe around $313 per share, where longs will be possible again long term. Going short on Shopify (NYSE: SHOP) stock will be possible on the way down for those trading stocks intraday, but those looking to buy the underlying stock for long term investments should be looking to buy Shopify (NYSE: SHOP) around that imbalance.
You can buy the underlying stock, CFDs (Contract For Difference) if it’s allowed in your country or long term options strategies. The instrument you decide to use is indifferent as long as you have a bullish bias in mind.
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