Shopify Inc. (SHOP) remains in a downtrend after breaking below the 200-day SMA earlier this year, followed by a 50-day SMA death cross. The stock peaked near 182 in late 2025 before entering a multi-month correction, forming lower highs and lows through early 2026. Recent price action shows a bounce from the 104-105 support zone, forming higher lows and reclaiming the 118-120 area. However, the 1-week technical rating signals sell, while 1-month is neutral, suggesting consolidation within the broader bearish structure. Traders note a potential exhaustion of the correction, but sustained closes below shorter EMAs like the 20-day at 120.07 reinforce caution.
Key support levels for SHOP cluster around the recent low of 104-105, with classic pivot S1 at 107.21 providing nearby defense. A break below could target S2 at 95.80. Resistance begins at the daily pivot of 121.59, followed by R1 at 133.00, aligning with the 20-day and 30-day EMAs. The 50-day SMA at 123.42 acts as immediate overhead, while the 200-day SMA near 141 remains a major hurdle. Volume has picked up on the recent recovery, but failure to reclaim 125-128 could retest lower supports.
The moving average alignment for Shopify Inc. (SHOP) underscores bearish control, with price below most MAs. Shorter-term 10-day EMA at 117.95 and SMA at 116.69 offer buy signals as minor support, but the 20-day SMA at 121.96, 50-day SMA at 123.42, and longer 100-day SMA at 141.19 all signal sell. The 200-day EMAs hover around 133-141, far above current levels, confirming the downtrend. A death cross between 50-day and 200-day MAs earlier highlighted shifting momentum, though recent price holds above the 10-day for short-term stability.
Momentum for SHOP remains neutral, with RSI (14) at 46.05 avoiding oversold territory. Stochastic %K at 36.41 is neutral, while MACD (12,26) at -2.92 with Awesome Oscillator at -6.72 signals sell. CCI (20) at -67.16 suggests potential oversold bounce conditions. Overall, oscillators show 3 sells, 7 neutrals, and 1 buy, reflecting indecision amid the recent bounce from lows. Traders watch for RSI divergence or MACD crossover to signal reversal.
Over the last 30 days, SHOP gained 2.88% but remains volatile, with day's range hitting 112-119.69 and volume at nearly 7 million shares. The bounce from 105 featured higher lows and volume pickup, indicating buyer interest at key demand zones. However, the multi-quarter downtrend from 182 high shows persistent selling pressure on rallies, with YTD losses at 27%. Consolidation around 118-120 tests buyer conviction.
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Traders monitor Shopify Inc. (SHOP) for a break above 121.59 pivot and 123 50-day SMA to challenge the downtrend, eyeing 133 resistance. Failure at 120 risks retest of 107.21 support and 105 lows. Watch RSI for overbought/oversold extremes, MACD for histogram shifts, and volume on moves toward 125-128 for breakout confirmation. A sustained hold above shorter EMAs could signal consolidation turning bullish, while deeper breaks target 95-100 zone.
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A.I.dvisor indicates that over the last year, SHOP has been closely correlated with COIN. These tickers have moved in lockstep 67% of the time. This A.I.-generated data suggests there is a high statistical probability that if SHOP jumps, then COIN could also see price increases.
| Ticker / NAME | Correlation To SHOP | 1D Price Change % | ||
|---|---|---|---|---|
| SHOP | 100% | +8.31% | ||
| COIN - SHOP | 67% Closely correlated | +6.23% | ||
| CLSK - SHOP | 64% Loosely correlated | -0.09% | ||
| RNG - SHOP | 64% Loosely correlated | +4.14% | ||
| RIOT - SHOP | 62% Loosely correlated | -3.86% | ||
| FTNT - SHOP | 62% Loosely correlated | +1.19% | ||
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| Ticker / NAME | Correlation To SHOP | 1D Price Change % |
|---|---|---|
| SHOP | 100% | +8.31% |
| Packaged Software industry (400 stocks) | 58% Loosely correlated | +0.87% |