Shopify Stock Technical Analysis
| SHOP Stock | USD 106.96 0.48 0.45% |
As of the 24th of November, Shopify has the Risk Adjusted Performance of 0.1461, semi deviation of 1.64, and Coefficient Of Variation of 554.01. In relation to fundamental indicators, the technical analysis model makes it possible for you to check existing technical drivers of Shopify, as well as the relationship between them.
Shopify Momentum Analysis
Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as Shopify, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to ShopifyShopify |
Shopify Analyst Consensus
| Target Price | Advice | # of Analysts | |
| 66.14 | Buy | 52 | Odds |
Most Shopify analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to helps potential investors understand Shopify stock's fair price compared to its market value. Analysts arrive at stock ratings after researching public financial statements of Shopify, talking to its executives and customers, or listening to Shopify conference calls.
Shopify technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
Shopify Technical Analysis
The output start index for this execution was three with a total number of output elements of fifty-eight. The Average True Range was developed by J. Welles Wilder in 1970s. It is one of components of the Welles Wilder Directional Movement indicators. The ATR is a measure of Shopify volatility. High ATR values indicate high volatility, and low values indicate low volatility.
Shopify Trend Analysis
Use this graph to draw trend lines for Shopify. You can use it to identify possible trend reversals for Shopify as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Shopify price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.Shopify Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Shopify applied against its price change over selected period. The best fit line has a slop of 0.54 , which means Shopify will continue generating value for investors. It has 122 observation points and a regression sum of squares at 11041.51, which is the sum of squared deviations for the predicted Shopify price change compared to its average price change.About Shopify Technical Analysis
The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of Shopify on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of Shopify based on its technical analysis. In general, a bottom-up approach, as applied to this company, focuses on Shopify price pattern first instead of the macroeconomic environment surrounding Shopify. By analyzing Shopify's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of Shopify's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to Shopify specific price patterns or momentum indicators. Please read more on our technical analysis page.
| 2021 | 2022 | 2023 | 2024 (projected) | Days Sales Outstanding | 54.39 | 57.68 | 59.71 | 32.25 | PTB Ratio | 15.42 | 5.33 | 11.01 | 15.57 |
Shopify November 24, 2024 Technical Indicators
Most technical analysis of Shopify help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Shopify from various momentum indicators to cycle indicators. When you analyze Shopify charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.
| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
| Risk Adjusted Performance | 0.1461 | |||
| Market Risk Adjusted Performance | 0.5164 | |||
| Mean Deviation | 1.97 | |||
| Semi Deviation | 1.64 | |||
| Downside Deviation | 2.03 | |||
| Coefficient Of Variation | 554.01 | |||
| Standard Deviation | 3.35 | |||
| Variance | 11.23 | |||
| Information Ratio | 0.1415 | |||
| Jensen Alpha | 0.453 | |||
| Total Risk Alpha | 0.0671 | |||
| Sortino Ratio | 0.2334 | |||
| Treynor Ratio | 0.5064 | |||
| Maximum Drawdown | 26.26 | |||
| Value At Risk | (2.68) | |||
| Potential Upside | 4.91 | |||
| Downside Variance | 4.13 | |||
| Semi Variance | 2.7 | |||
| Expected Short fall | (2.35) | |||
| Skewness | 3.53 | |||
| Kurtosis | 20.83 |
Additional Tools for Shopify Stock Analysis
When running Shopify's price analysis, check to measure Shopify's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Shopify is operating at the current time. Most of Shopify's value examination focuses on studying past and present price action to predict the probability of Shopify's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Shopify's price. Additionally, you may evaluate how the addition of Shopify to your portfolios can decrease your overall portfolio volatility.