SHOP, enters Uptrend as Momentum ascends above 0 level on Nov 23
This indicator may be signaling that SHOP's price has momentum to move higher, since its current price exceeds the price logged 14 days ago. Traders may consider buying the stock or exploring call options. Tickeron's A.I.dvisor backtested 68 similar cases where SHOP's Momentum Indicator exceeded 0, and 63 of them led to a successful outcome. Odds of Success: 90%. Current price $965.00 crossed the resistance line at $949.78 and is trading between $1021.62 support and $949.78 resistance lines. Throughout the month of 10/22/20 - 11/23/20, the price experienced a -3% Downtrend, while the week of 11/16/20 - 11/23/20 shows a +7% Uptrend.
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for SHOP just turned positive on November 20, 2020. Looking at past instances where SHOP's MACD turned positive, the stock continued to rise Tickeron A.I. detected that in 47 of 52 cases over the following month. The odds of a continued upward trend are 90%.
Following a +6.13% 3-day Advance, the price is estimated to grow further. Considering data from situations where SHOP advanced for three days, in 331 of 378 cases, the price rose further within the following month. The odds of a continued upward trend are 88%.
SHOP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for SHOP just turned positive on November 20, 2020. Looking at past instances where SHOP's MACD turned positive, the stock continued to rise Tickeron A.I. detected that in 47 of 52 cases over the following month. The odds of a continued upward trend are 90%.
Following a +6.13% 3-day Advance, the price is estimated to grow further. Considering data from situations where SHOP advanced for three days, in 331 of 378 cases, the price rose further within the following month. The odds of a continued upward trend are 88%.
SHOP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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