SHOP Daily Technical Analysis
Shopify Inc
Provides e-commerce tools and payment solutions for online businesses.
SHOP Technical Analysis Summary
Shopify is currently in a precarious position, having broken down sharply from recent highs to test the critical 200-day SMA support at approximately 135.36. Short-term momentum is heavily bearish with a confirmed MACD crossover and a gap down, but the RSI reading of 27.20 suggests the stock is oversold and could see a technical bounce or consolidation. Long-term trend viability depends entirely on holding the 200-day moving average; a failure here exposes lower support zones around 125.
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SHOP Daily Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price has gapped down significantly, trading below the 20 and 50 SMAs. Momentum is strongly negative with MACD diving and price piercing the lower Bollinger Band, though RSI at 27.20 indicates an oversold condition.
Long-term Sentiment (weeks to months): Neutral
The long-term uptrend is under threat as price tests the critical 200-day SMA (135.36). While the 200 SMA is still sloping slightly upward, a decisive break below this level would shift the long-term bias to bearish.
Report Metadata
- Timeframe: daily
- Generated at: 2026-01-23T15:08:08.974Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $135.25 | $135.00 - $135.50 | Strong | Confluence of the 200-day SMA (135.36) and current price action acting as a critical floor. |
| $125.00 | $123.00 - $127.00 | Weak | Swing lows and consolidation zone from August/September 2024. |
| $112.50 | $110.00 - $115.00 | Strong | Major structural support from the May/June 2024 base formation. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $147.50 | $145.00 - $150.00 | Strong | Area of the recent breakdown gap; former support turning into resistance. |
| $159.00 | $158.00 - $160.00 | Strong | Cluster containing the 20-day SMA (159.36) and 50-day SMA (158.20). |
| $172.50 | $170.00 - $175.00 | Strong | Recent swing highs forming a potential double top structure. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Double Top | Bearish | $125.00 | Price formed two distinct peaks around the 175 level in late 2024 and early 2025 before breaking the neckline. |
| Strong | Gap Down | Bearish | N/A | A significant bearish gap occurred recently, signaling a strong shift in momentum and trapping buyers above 150. |
| Weak | Oversold RSI | Neutral | N/A | RSI is currently at 27.20, below the 30 threshold, suggesting the selling pressure may be overextended in the short term. |
Frequently Asked Questions about SHOP
What is the current sentiment for SHOP?
The short-term sentiment for SHOP is currently Bearish because Price has gapped down significantly, trading below the 20 and 50 SMAs. Momentum is strongly negative with MACD diving and price piercing the lower Bollinger Band, though RSI at 27.20 indicates an oversold condition.. The long-term trend is classified as Neutral.
What are the key support levels for SHOP?
StockDips.AI has identified key support levels for SHOP at $135.25 and $125.00. These levels may represent potential accumulation zones where buying interest could emerge.
Is SHOP in a significant dip or a Value Dip right now?
SHOP has a Value Score of 72/100. It is currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.