As of April 30, 2026, SHOP (Shopify Inc.) is in a bottoming attempt state on the monthly chart, with a confidence level of 62%. Key support is at $120 and key resistance at $135. Sharp pullback from ~$180 peak, now consolidating around the rising EMA20 (~$119.8) with RSI ~53 (cooling but not washed out).
Base-building above ~$120 then reclaim $135; next leg attempts to retrace the selloff toward Fib resistance and prior supply.
Failed base: loses ~$120, retests the confluence zone near EMA50/SMA50 region; if that fails, deeper mean-reversion toward the next structural shelf.
Monthly close back above $135 (and holding 2+ closes) would confirm buyers regained control
Monthly close below $105 would invalidate and shift bias to DOWNTREND/FALLING_KNIFE risk
Start near current pivot/EMA20 support; add on breakdown-retest toward $105; heavy add near EMA50/SMA50 confluence (~$98-$102) where prior trend support should defend.
Trim into prior supply/Fib retracement zone ($155-$190); fully close if price becomes extended beyond the prior ATH region ($200+) where long-term forward returns/risk skew worsens.
As of April 30, 2026, SHOP (Shopify Inc.) is in a bottoming attempt state on the monthly chart with 62% confidence. Sharp pullback from ~$180 peak, now consolidating around the rising EMA20 (~$119.8) with RSI ~53 (cooling but not washed out).
On the monthly timeframe, SHOP has key support at $120 and key resistance at $135. The most likely scenario (bullish) targets $135 and $155, with a revert level at $125.
SHOP (Shopify Inc.) is currently classified as bottoming attempt on the monthly chart, with 62% confidence. Confirmation requires: Monthly close back above $135 (and holding 2+ closes) would confirm buyers regained control This would be invalidated by: Monthly close below $105 would invalidate and shift bias to DOWNTREND/FALLING_KNIFE risk
The most likely scenario (bullish) targets $135 and $155, with a revert level at $125. The alternative scenario (bearish) targets $105 and $97.0.
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