Shopify (SHOP) Monthly Technical Analysis
Shopify Inc
Provides e-commerce tools and payment solutions for online businesses.
SHOP Technical Analysis Summary
Shopify is firmly positioned in a secular bull market regime following an extensive multi-year bottoming process and subsequent breakout above historical intermediate resistance. Price is trending strongly above both the 20-month and 50-month moving averages, with momentum indicators sustaining levels typical of major trend expansions. While testing key overhead supply near $175–$180, the broader technical structure favors continuation toward historical all-time highs as long as price holds above the $125–$132 support zone.
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SHOP Monthly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price remains well above the ascending 20-month SMA (130.68) after a powerful multi-month expansion, with monthly RSI holding above 60 indicating strong upward momentum.
Long-term Sentiment (weeks to months): Bullish
A completed multi-year base from the 2022 secular lows has re-established a clear sequence of higher highs and higher lows, comfortably supported above the rising 50-month SMA (92.38).
Report Metadata
- Timeframe: monthly
- Generated at: Nov 1, 2026
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $128.50 | $125.00 - $132.00 | Strong | Confluence of the ascending 20-month SMA and previous breakout/consolidation shelf. |
| $89.00 | $85.00 - $93.00 | Strong | Major secular structural support anchored by the rising 50-month SMA and lower Bollinger Band boundary. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $178.00 | $175.00 - $181.00 | Strong | Upper monthly Bollinger Band and recent multi-year swing high testing the 2021 peak zone. |
| $215.00 | $210.00 - $220.00 | Moderate | Historical all-time high area established in late 2021. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Multi-Year Rounding Bottom | Bullish | $215.00 | Large-scale cyclical bottom formation spanning 2022 to present, driving price from secular lows back toward multi-year highs. |
Frequently Asked Questions about SHOP
What is the current sentiment for SHOP?
The short-term sentiment for SHOP is currently Bullish because Price remains well above the ascending 20-month SMA (130.68) after a powerful multi-month expansion, with monthly RSI holding above 60 indicating strong upward momentum. The long-term trend is classified as Bullish.
What are the key support levels for SHOP?
StockDips.AI has identified key support levels for SHOP at $128.50 and $89.00. 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 54/100. It is not 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.