SHOP Weekly Technical Analysis
Shopify Inc
Provides e-commerce tools and payment solutions for online businesses.
SHOP Technical Analysis Summary
Shopify has suffered a technically damaging reversal from the 170-176 zone, confirming a large-scale Double Top structure. The break below the 50-week SMA and the lower Bollinger Band signals intense selling momentum, with the current week's long upper wick confirming that rallies are being sold aggressively. While the RSI is approaching oversold territory, the technical damage suggests a likely test of lower supports, with the 200-week SMA near 79 serving as the critical long-term defense line.
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SHOP Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price has violently broken below the 20-week and 50-week SMAs and sits below the Lower Bollinger Band. The current candle is an Inverted Hammer with a long upper wick, indicating a rejected attempt to reclaim lost ground. RSI is plunging and MACD momentum is strongly negative.
Long-term Sentiment (weeks to months): Neutral
The stock has been rejected from a major double-top resistance near all-time highs (~176). However, the primary trend is not yet fully bearish as price remains above the rising 200-week SMA (79.12), which defines the long-term structural floor.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-15T00:15:51.716Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $102.50 | $100.00 - $105.00 | Weak | Immediate swing low and psychological support area. |
| $90.00 | $88.00 - $92.00 | Strong | Prior breakout level and major consolidation zone from previous years. |
| $79.00 | $78.00 - $80.00 | Strong | Confluence of the 200-week SMA and significant structural support. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $130.00 | $128.00 - $132.00 | Strong | The 50-week SMA and the zone of the most recent breakdown/rejection. |
| $152.50 | $150.00 - $155.00 | Strong | 20-week SMA (Bollinger Basis) and previous consolidation shelf. |
| $173.00 | $170.00 - $176.00 | Strong | Major Double Top peaks and historical all-time high resistance. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Double Top | Bearish | $80.00 | The stock failed to sustain a breakout near the 2021 highs (~176), forming a second major peak followed by a sharp reversal. |
| Strong | Inverted Hammer | Bearish | N/A | The current weekly candle shows a small body near the lows with a long upper wick, signifying that intra-week bulls were overpowered by sellers at the 139 level. |
Frequently Asked Questions about SHOP
What is the current sentiment for SHOP?
The short-term sentiment for SHOP is currently Bearish because Price has violently broken below the 20-week and 50-week SMAs and sits below the Lower Bollinger Band. The current candle is an Inverted Hammer with a long upper wick, indicating a rejected attempt to reclaim lost ground. RSI is plunging and MACD momentum is strongly negative.. 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 $102.50 and $90.00. 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 22/100. 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.