BotTrigger Buy Alert: $SHOP (Shopify) bought @ $91.81. Although we would have loved to add this lower during a deeper correction, the trend has been too strong to ask for a 50 day moving average bounce. We can see that throughout the entire year the stock has been a buying opportunity at the 21 day moving average and followed suite with higher prices there after. Today $SHOP has squarely bounced off the 21 day moving average, up intraday from a low of $81 to up there above the $91 area. That's a huge move in one day reversing the lows. What's more, this move is happening on a record surge of volume as the highest ever. That's not retail money moving the needle, that's the big boys moving the stock. As the saying goes, if the big boys want it, we want it. Expect some back fill here as a pullback from such a giant surge is normal. So one could ideally wait for pullback anywhere from -$3 to -$7 from our entry. As always, we will update Members via mobile as the trade develops for our next area to add into strength as the trend chugs higher, or if we get an official BotTrigger sell signal if/when this trend gets tired.
For any new members who are unfamiliar with what Shopify does, they are the largest ecommerce website platform for businesses to sell their products/services. Their specialty is ecommerce. The similar competitors howbeit different would be Square $SQ & Wix $WX. We're allocating 3% to SHOP here as a starting position and will be allocating another 3% onto $WIX as soon as we get positive confirmation that it's ready to bounce off it's relative low point which is where $WIX is currently at.
