SHOP Weekly Technical Analysis
Shopify Inc
Provides e-commerce tools and payment solutions for online businesses.
SHOP Technical Analysis Summary
SHOP is currently experiencing a deep weekly correction within a larger macro uptrend that began in late 2022. Price recently found strong support in the 105-115 zone, bouncing sharply, but faces immediate overhead resistance at the 50-week SMA near 130. The long-term technical posture remains constructive as long as the broader structure above the 200-week SMA holds.
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SHOP Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Neutral
Price is bouncing strongly off the 110 support area after a sharp correction, but remains below the 50-week SMA. MACD momentum is negative but showing early signs of deceleration with a lighter histogram bar.
Long-term Sentiment (weeks to months): Bullish
The macro market structure established since late 2022 consists of higher highs and higher lows. Price remains well above the 200-week SMA, suggesting the current action is a deep correction within a primary uptrend.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-21T18:35:14.745Z
- Model: gemini-3.1-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $110.00 | $105.00 - $115.00 | Strong | Recent swing low and area of strong buying interest that halted the sharp, multi-week correction. |
| $80.00 | $75.00 - $85.00 | Strong | Major macro support zone containing the 200-week SMA and previous structural resistance that turned to support. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $135.00 | $130.00 - $140.00 | Strong | Immediate overhead resistance zone containing the 50-week SMA and recent breakdown consolidation levels. |
| $182.50 | $175.00 - $190.00 | Strong | The recent major macro swing high area where the prevailing uptrend stalled and reversed. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Bullish Pullback | Bullish | N/A | A significant multi-week price correction within a broader macro uptrend. The recent strong bullish candle printed at support suggests the pullback may have found a local bottom, setting up for a potential trend resumption. |
Frequently Asked Questions about SHOP
What is the current sentiment for SHOP?
The short-term sentiment for SHOP is currently Neutral because Price is bouncing strongly off the 110 support area after a sharp correction, but remains below the 50-week SMA. MACD momentum is negative but showing early signs of deceleration with a lighter histogram bar.. 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 $110.00 and $80.00. 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 76/100. It is currently flagged as a significant dip in the Top Dips list. It is also listed as a Value Dip because long-term sentiment is bullish.
View the full interactive analysis on StockDips.AI.