SHOP Daily Technical Analysis
Shopify Inc
Provides e-commerce tools and payment solutions for online businesses.
SHOP Technical Analysis Summary
Shopify is experiencing a significant technical breakdown, having lost the long-term support of the 200-day moving average amidst expanding volatility. While the steep drop and oversold RSI (below 30) suggest a potential short-term relief rally or consolidation near the 120 support zone, the broader structure has shifted bearishly with momentum indicators like MACD confirming the downtrend. Investors should watch if the price can reclaim the 137 level to negate the immediate bearish bias.
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SHOP Daily Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price is in a sharp decline, trading well below the 20-day SMA, and has recently broken below the 200-day SMA. MACD momentum is strongly negative.
Long-term Sentiment (weeks to months): Bearish
The stock has lost the critical 200-day SMA support level, and the 50-day SMA has rolled over and is trending downwards, signaling a major trend reversal.
Report Metadata
- Timeframe: daily
- Generated at: 2026-02-03T15:08:49.916Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $120.00 | $118.00 - $122.00 | Strong | Confluence of the current Lower Bollinger Band (120.40) and consolidation zones from mid-2025. |
| $107.50 | $105.00 - $110.00 | Weak | Structural support area derived from the swing lows and consolidation base seen in early 2025. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $137.50 | $137.00 - $138.00 | Strong | The 200-day SMA (137.17) which acted as support is now immediate overhead resistance. |
| $157.50 | $155.00 - $160.00 | Strong | Zone containing the 50-day SMA and the breakdown level of the recent top structure. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Double Top / Distribution | Bearish | $140.00 | A clear topping formation with peaks around the 180 level in late 2025 and early 2026, followed by a neckline break. |
| Weak | Oversold RSI | Bullish | N/A | The RSI is currently at 28.36, indicating extreme selling pressure that often precedes a short-term mean reversion or bounce. |
Frequently Asked Questions about SHOP
What is the current sentiment for SHOP?
The short-term sentiment for SHOP is currently Bearish because Price is in a sharp decline, trading well below the 20-day SMA, and has recently broken below the 200-day SMA. MACD momentum is strongly negative.. The long-term trend is classified as Bearish.
What are the key support levels for SHOP?
StockDips.AI has identified key support levels for SHOP at $120.00 and $107.50. These levels may represent potential accumulation zones where buying interest could emerge.
Is SHOP in a significant dip or a Value Dip right now?
SHOP has a Value Score of 96/100. It is currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.