Shopify (Shop) chart showing the intermediate uptrend

I featured Shopify at $26.82 on March 8, 2016. Now at $75.95

Shopify daily candlestick chart showing the intermediate uptrend.

Shopify Daily Candlestick Chart

Reference my post from March 8, 2016 when it was trading for $26.82: “Shopify upgraded with a $35 price target. Breakout at $24. Near-term uptrend and momentum indicators confirming the move.”

Update May 2, 2017: Shopify reports first quarter results – Revenue +75%

Update May 3, 2017, Financial Post article: Why investors should stick with the ‘hot hand’ that is Shopify Inc.

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Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
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