CFD Trading – Sell Shopify (SHOP.NAS) @ $877.00. Stop @ $958.00 and Target @ $690.00

 Shopify Inc. Stock Code SHOP.NAS

Price broke above the cloud on 16 April 2020 and has been above the cloud since that day. Price reached a high of $1145 on 3 September 2020 but with bearish divergence warning from MACD. Price dropped below the cloud two days ago on 16 September. Conversion line and Base line had a bearish crossover. Lagging Span is below price of 26 days ago but is inside the cloud at the moment. MACD is bearish at the moment with both its lines far away from the zero line, which is a hint of a strong bearish trend ahead.

$877.00              Sell
$690.00              Price Target
$958.00              Risk Management Stop
3 weeks              Trade Duration

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