SHOPIFY (1W) - Bear market incoming.
Hi Traders,
Cosider this Analysis of SHopify as one of the representative companies in e-commerce sector. Which could bealredy marked as Over-valued.
Chart Show all important informations.:
+ RSI and MACD are alredy showing Divergencies.
+ Market is Hesitating at curent price (some players are taking profit).
+ according to Elliot wave theory, you can see extended Wave 3. Wave 5 is alredy 1:1 with Wave 1. And 5 impulsive subwaves are also visible at 1D chart.
Market / some sectors can be very overvalued right now. Let me know what you think about this idea. Best would be to post you EW Count ;) (Im Always glad to learn someting new, and discus different opinion).
Cosider this Analysis of SHopify as one of the representative companies in e-commerce sector. Which could bealredy marked as Over-valued.
Chart Show all important informations.:
+ RSI and MACD are alredy showing Divergencies.
+ Market is Hesitating at curent price (some players are taking profit).
+ according to Elliot wave theory, you can see extended Wave 3. Wave 5 is alredy 1:1 with Wave 1. And 5 impulsive subwaves are also visible at 1D chart.
Market / some sectors can be very overvalued right now. Let me know what you think about this idea. Best would be to post you EW Count ;) (Im Always glad to learn someting new, and discus different opinion).
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