AAPL 184.35 1.1134% MSFT 411.6876 2.364% GOOG 145.3444 1.0459% GOOGL 144.175 1.14% AMZN 174.33 3.4047% NVDA 784.65 16.2927% META 486.18 3.878% TSLA 197.565 1.435% TSM 129.25 3.1195% LLY 769.655 3.1834% V 283.785 2.5383% AVGO 1304.8 6.3017% JPM 183.325 1.3405% UNH 525.425 0.6619% NVO 124.57 3.01% WMT 175.35 0.9499% LVMUY 182.36 1.7066% XOM 104.775 -0.0715% LVMHF 909.7617 1.9427% MA 471.85 2.7884%


Book Profit on this NYSE-Listed Technology Stock: Shopify, Inc

Aug 03, 2022 | Team Kalkine
Book Profit on this NYSE-Listed Technology Stock: Shopify, Inc


Shopify, Inc.

Company Overview:  Shopify, Inc. (NYSE: SHOP) is a global Canadian e-commerce business with its headquarters in Ottawa, Ontario. It owns an e-commerce platform for online storefronts and retail point-of-sale systems.

As per our previous ‘Report published on SHOP on 06th July 2022, Kalkine provided a ‘Hold’ stance on the stock at USD 34.00 based on ‘decent growth in topliner results, technical analysis, and upside indicated based on Valuation done, and the stock price has now moved by ~23.82% since then and the price is now moved above the Resistance 1 level and hovering near R2.

Noted below are the details of support and resistance levels provided in our previous report:


SHOP’s Daily Chart

(Source: Refinitiv, Analysis done by Kalkine Group) 

Considering the resistance, target level attainment, current trading levels, and risks associated, the stock seems ‘Sell’ rating is assigned to the “SHOP” at the current market price of USD 42.10 (as of 03 August 2022 at 12:40 AM PDT).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 03 August 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’