Shopify - Why I bought on Sept 4, 2020

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Avatar for pairmike
3 years ago

Today's pullback in technology stocks was brutal. At the open, most all technology related stocks were down significantly.

Specifically, I saw that Shopify (SHOP) was down a great deal, following two previous days of selling pressure. Based on the chart below, I opened a position in the stock.

My reasons for buying were:

  1. 3 days of selling pressure

  2. Big reversal off the lows of the day

  3. Large amount of volume the last 3 trading sessions

What do you think about Shopify at these levels? Do you buy any? If not, will you?



$ 0.00
Avatar for pairmike
3 years ago