The last time we visited Shopify, its shares’ price fell sharply right to the hands of its ‘good old friends’ – the 85-week SMA and the 88-week SMA duo:
In the four weeks since, the support lines carried SHOP and gave it the TLC it needed to gather energy and get back up on its feet. Which it did:
SHOP’s 85-week SMA and 88-week SMA support lines did it again!