SHOP Weekly Technical Analysis
Shopify Inc
Provides e-commerce tools and payment solutions for online businesses.
SHOP Technical Analysis Summary
Shopify is in the midst of a sharp weekly correction, having been rejected from major resistance near 180 and dropping below its 20-week moving average. Short-term momentum is decisively bearish with a MACD crossover and RSI falling below 50, putting immediate pressure on the 50-week SMA support at roughly 130. While the long-term uptrend remains technically intact above this level, a failure to hold 130 could open the door to a deeper pullback toward the 110-115 consolidation zone.
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SHOP Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price has sharply corrected below the 20-week SMA and lower Bollinger Band. MACD has crossed below the signal line with expanding negative histogram, and RSI has dropped below 50, indicating strong downward momentum.
Long-term Sentiment (weeks to months): Bullish
Despite the recent sharp pullback, the price structure maintains a long-term series of higher lows since 2022 and currently remains above the rising 50-week SMA and well above the 200-week SMA.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-01-31T23:33:06.839Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $129.50 | $128.00 - $131.00 | Strong | Confluence of the 50-week SMA (130.06) and current price action testing this dynamic level. |
| $112.50 | $110.00 - $115.00 | Strong | Previous consolidation zone and swing lows established prior to the most recent rally. |
| $79.00 | $78.00 - $80.00 | Strong | Major long-term structural support aligned with the 200-week SMA. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $157.00 | $156.00 - $158.00 | Weak | The 20-week SMA (middle Bollinger Band) which now acts as overhead resistance. |
| $177.50 | $175.00 - $180.00 | Strong | Recent swing highs and major resistance zone where the rally failed. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Bearish Rejection (Double Top) | Bearish | $115.00 | Price failed to sustain a breakout above the ~175 level, mirroring highs from 2021, creating a large-scale resistance rejection. |
| Strong | Correction to Moving Average | Neutral | $130.00 | A sharp mean-reversion move returning price to the 50-week SMA after an extended rally. |
Frequently Asked Questions about SHOP
What is the current sentiment for SHOP?
The short-term sentiment for SHOP is currently Bearish because Price has sharply corrected below the 20-week SMA and lower Bollinger Band. MACD has crossed below the signal line with expanding negative histogram, and RSI has dropped below 50, indicating strong downward momentum.. The long-term trend is classified as Bullish.
What are the key support levels for SHOP?
StockDips.AI has identified key support levels for SHOP at $129.50 and $112.50. 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 114/100. It is not 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.