$SHOP Key Levels, Analysis, & Targets REQUEST

Mar 31, 2022

SHOP Key Levels, Analysis, & Targets

So shop has been obviously selling off pretty hard since December. I would expect to see some choppy price action between 530 and 840. The MacD on the weekly doesn’t really support a huge up move from here just yet… I would expect to see a while of consolidation before any directional move...
I would keep an eye on the Daily and the Weekly macD.
The daily looks like it’s getting rejected from crossing up so I’d be looking down to the 530 level. If that level holds then I would start to add a little bit… If not, there’s not a whole lot of support until you get to around 305.
305 is actually also the covid low.
Also keep an eye on the 2019 top @ 404… this is an important level to hold.
The only places I would buy are the support levels in green… and they also become sell levels on the way up…

I hope this helps… sorry I felt a little bit rambly here…
IF you don’t have a position I would personally wait… but if you do use the levels in green to add and bring your average down.
I’m not in ANY way suggesting we get that low, but these are the key levels to stick too no matter what happens…

Also, this is in logarithmic mode...

By Request for janatztxx