SHOP

Sounds good! Thanks Mat!

Hi there,

Shopify is coming under pressure like many in the tech industry - likely profit taking after reaching all time highs. Despite the downtrend, it still has a reasonable RSI (so its not in overbought or oversold) and it is nearing its 50-day moving average of $1,351 - if it holds that is a good sign, but if it breaks below that lever there could be more downside. Furthermore, Shopify has a trend in that when it drops by 20% or more it has proved to be a buying opportunity. It is currently down by ~15% from its high. Long-term, we like the stock and think it will do quite well.

One way to to avoid overthinking it, would be to average into your position. One could buy some now and then top up their position at a later point.

Mat
(Of note, I am long SHOP)