US stock / ETF

Shopify Inc. Class A subordinate voting shares

SHOP · NASDAQ · USD

4 hoursRange49%
4h Range probability 98%Range

SHOP 4H chart

EMA21EMA50Bollinger
----

Market View

Market Shift

4h: EMA8/21/50 are in bearish alignment

Confirmation Trigger

Break either side of $138.41 - $154 with volume.

Invalidation Trigger

A trend close outside the ATR band changes the range thesis.

Market Context

Trend PhaseBearish
Weak Pullback

Price is below EMA21

4h
Momentum StateRange
Momentum mixed

RSI 46.9, MACD 0.175

4h
Volatility EnvironmentRange
Low volatility

ATR is $2.59 (1.75%)

4h

EMA Structure

Bearish
EMA 8$147.88Bullish
EMA 21$148.45Bearish
EMA 50$151.63Bearish

Signals

CategoryReadStrength
Momentum
RSI 46.9 · MACD 0.175

Neutral zone

Strength
Range
Volatility
ATR $2.59 · BB 5.01%

Low volatility

Strength
Range
Volume
MFI 39.1 · OBV 5.36%

Relative to 20-period average volume

Strength
Range
Price Levels
$138.41 - $154

Support/Resistance Distance

Strength
Range

Key Levels

Upper risk zone

+5.85% · 3.3 ATR above latest close

$156.59
Nearest resistance

+4.1% · 2.3 ATR above · 34-bar high

$154
Current price

Price shown is delayed

$147.94
Nearest support

-6.44% · 3.7 ATR below · 34-bar low

$138.41
Deeper support zone

-8.19% · 4.7 ATR below latest close

$135.82
ATR zone

Latest close ± ATR14

$145.35 - $150.53

Indicators

Trend

Dow Theory Structure

Confirmation $152.51, invalidation $144.43

range · mixedRange
ADX / +DI / -DI (14)

Trend strength is active

31.5 / 13.0 / 39.0Bearish
Supertrend (10,3)

Price is above Supertrend

$141Bullish
Ichimoku Cloud

Cloud Span A / Span B

$147.14 / $147Bullish
Donchian Channel (20)

20-period breakout channel position

54%Range

Volatility

ATR (14)

Low volatility

$2.59 (1.75%)Range
Bollinger Bands (20,2)

Width 5.01%

39%Bearish
Keltner Channel upper / lower

ATR channel lower / upper

$152.54 / $144.22Range
ATR channel lower / upper

Current Volatility Envelope

$145.35 / $150.53Range

Levels / Risk

Resistance

Nearest Upside Decision Level

$154Range
Support

Nearest Downside Decision Level

$138.41Range

Momentum

RSI (14)

Neutral zone

46.9Range
MACD (12,26,9)

Histogram is positive

0.175Bullish
Stochastic %K / %D (14,3,3)

%K / %D momentum cross

54.4 / 51.8Bullish
Williams %R (14)

Neutral zone

-45.6Range
CCI (20)

Balanced zone

-60.1Range
TD Sequential

Setup is not extreme

buy 1Bullish

Volume / Money Flow

MFI (14)

Money flow is weak

39.1Bearish
OBV slope

20-period OBV slope

5.36%Bullish
Volume ratio

Relative to 20-period average volume

1.56xBullish

Trend

Dow Theory Structure

Confirmation $152.51, invalidation $144.43

range · mixedRange
ADX / +DI / -DI (14)

Trend strength is active

31.5 / 13.0 / 39.0Bearish
Supertrend (10,3)

Price is above Supertrend

$141Bullish
Ichimoku Cloud

Cloud Span A / Span B

$147.14 / $147Bullish
Donchian Channel (20)

20-period breakout channel position

54%Range

Momentum

RSI (14)

Neutral zone

46.9Range
MACD (12,26,9)

Histogram is positive

0.175Bullish
Stochastic %K / %D (14,3,3)

%K / %D momentum cross

54.4 / 51.8Bullish
Williams %R (14)

Neutral zone

-45.6Range
CCI (20)

Balanced zone

-60.1Range
TD Sequential

Setup is not extreme

buy 1Bullish

Volatility

ATR (14)

Low volatility

$2.59 (1.75%)Range
Bollinger Bands (20,2)

Width 5.01%

39%Bearish
Keltner Channel upper / lower

ATR channel lower / upper

$152.54 / $144.22Range
ATR channel lower / upper

Current Volatility Envelope

$145.35 / $150.53Range

Volume / Money Flow

MFI (14)

Money flow is weak

39.1Bearish
OBV slope

20-period OBV slope

5.36%Bullish
Volume ratio

Relative to 20-period average volume

1.56xBullish

Levels / Risk

Resistance

Nearest Upside Decision Level

$154Range
Support

Nearest Downside Decision Level

$138.41Range

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