SHOP
📈 Shopify is transferring its listing from the New York Stock Exchange (NYSE) to Nasdaq, which caused a significant surge in its stock price and trading volume.
💪 The stock has been finding support near its moving average, indicating strong investor confidence and potential for continued growth.
🌟 The presenter considers Shopify one of the best-performing stocks in the market, highlighting its strong relative strength and consistent performance above the moving average.
@VisionariosBolsa:
“I’m seeing Shopify super well today, I think it presented something. Shopify, because Shopify is going to open super strong, and I was just seeing, I was looking at it these days, because I was focusing a lot on the values that are finding support near the average, and Shopify was one of them. And here we were finding support on average. Today it opened up. Well, I’m not going to look because it seemed super weird to me that today it would open with a gap, and this is something I wanted to see before I forget. Then we have Seeking Alpha. Seeking Alpha is more to see only important news, to clear all the noise of what is not so immediate. Shopify decides to transfer its listing to Nasdaq. Well, look, interesting. Shopify was listed, well, it is listed on the NYSE, on the New York Stock Exchange, and it is going to move to the Nasdaq, and hence today it is rising with so much volume and with that good candle. I was saying that it didn’t make sense to me that today it had opened with that gap below with so much force, volume, it seemed strange to me. Well, good news. In the end, it was in an important market, but now it is in an even more important one. So, well, interesting. Spotify seems to me right now one of the best values in the market. Whoever has it in their portfolio and was doubting whether to sell it, I say it is one of the best values in the market. Why? Because the relative strength remains at 97, close to historical highs. This relative strength indicator has not stopped making highs. Remember that this is an indicator that measures from 1 to 99 the companies from the worst to the best in the market. How do we measure the worst to the best in the market? Simply by having a mathematical formula that measures a weighted average of the last few months, the performance of the values, the values with the worst performance are rated with one, those with the highest performance with 99. Spotify is at 97 of those that are best weighted. And also, it leaves us the trail of relative strength, and notice how it has only gone up, up, up, up, when the market has also only put pressure on the downside. We are seeing how it was a company that for a long time was there asleep, that seemed to be going nowhere. The same thing happens, for example, to Airbnb. Airbnb, notice, more of the same. Since it went public, it has done nothing. It is there saying, ‘But if it is a market leader and it does not stop growing and it puts out numbers,’ and it may be cheap, and yes, but until the timing is right, do not invest. We at Spotify did not invest until we saw the right timing, until, in fact, it could have been entered earlier with another type of strategy because it was already starting to wake up. We entered a little later, but it is when you can really make money in those values, and notice how we are finding support in the 10-week average. I say, I don’t think there is a buy if you are not inside, but if you are inside, knowing that there are many people who are inside, especially because we have talked about it many times and because it is a very well-known company and so on, now I think it is one of the most interesting companies because of how it is showing strength, because of how it is staying above the average.”
Watch the exact part of the YouTube video where the stock is discussed below:
View the video on YouTube.
Read more articles analyzing Shopify (SHOP) at the provided link. SHOP stock.
