Shopify Inc (US) SHOP shares are trading lower by $1.12 at $67.93 in Friday's session. The retreat appears to be technical in nature as there is no specific news.
Instead, it appears the stock has put in a triple top for now and sellers are having to sell into weakness as opposed to into strength.
- On Tuesday, it peaked at $73.00
- On Wednesday, at $72.99
- On Thursday, just under those highs at $72.88
Shopify's all-time closing high was made Wednesday at $72.72.
In a volatile session, the stock opened low and continued in that direction until it found a bottom just ahead of its March 23 low ($66.73) at $67.03. The rebound off that low cleared Thursday's closing price of $69.05, reaching $69.44 before falling back to the $68.00 area.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
