Shopify (#SHOPIFY) weekly uptrend opportunity based On 1 Lot Calculation:
- SHOPIFY provides an online shopping platform. Shopify entered a strategic partnership with JD.com, a major Ali Baba competitor. The move will give Shopify merchants access to 550 million JD.com subscribers in China. The partnership should enable Shopify to grow its client base even further. According to Global Data Estimates, the E-Commerce market in China is anticipated to grow to C$4.2 Trillion by 2025, which is five times larger than the anticipated E-Commerce market in the U.S.
- EVENT: Q4 earnings report for Shopify will be coming out on 16th of February (PREMARKET). Shopify generated C$8.2b in sales over the black Friday and Cyber Monday in 2021. As of Q3 2021, Shopify held approximately 29% of the E-Commerce market in the U.S, a 9% increase on their 2020 market share of 20%, and are likely to continue expanding. Analysts are estimating that Shopify will have grown its revenue from C$3.7b to C$5.7b over the last year, which is a total increase of 48%.
- ANALYSTS OPINIONS: Jefferies has a price target of C$2290, Goldman Sachs target is C$2000 while Morgan Stanley target is C$1850. The Bloomberg Analyst Consensus has an average price target of C$1935.83.
- STOCK PRICE ACTION: Shopify stock price reached a record high of C$2228.73 in November 2021. Since then the stock price fell 50%, trading slightly above C$1000. If a full recovery follows, the stock could increase by around 100%.
Shopify, February 08, 2022
Current Price: 1,100.00
|
Shopify |
Weekly |
|
Trend direction |
|
|
1,540.00 |
|
|
1,375.00 |
|
|
1,230.00 |
|
|
990.00 |
|
|
900.00 |
|
|
850.00 |
Example of calculation based on weekly trend direction for 1 Lot*
|
Shopify |
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|
Pivot Points |
||||||
|
Profit or loss in $** |
34,540.96 |
21,588.10 |
10,205.28 |
-8,635.24 |
-15,700.44 |
-19,625.54 |
|
Profit or loss in €** |
30,179.96 |
18,862.47 |
8,916.80 |
-7,544.99 |
-13,718.16 |
-17,147.70 |
|
Profit or loss in £** |
25,534.83 |
15,959.27 |
7,544.38 |
-6,383.71 |
-11,606.74 |
-14,508.42 |
|
Profit or loss in C$ |
44,000.00 |
27,500.00 |
13,000.00 |
-11,000.00 |
-20,000.00 |
-25,000.00 |
* 1.00 lot is equivalent of 1 00 units
** Calculations for exchange rate used as of 13:40 (GMT) 08/02/2022
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail