Shopify (SHOP) : Traders are bullish on Shopify (SHOP) as it has outperformed the S&P 500 by a margin of 5.92% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.08%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.7% in the last 1 week, and is up 13.07% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Shopify (NYSE:SHOP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.90 and $32.47 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.46. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.87, notching a gain of 0.43% for the day. The total traded volume was 1,636,973 . The stock had closed at $32.73 on the previous day.
The stock has recorded a 20-day Moving Average of 5.6% and the 50-Day Moving Average is 11.67%. Shopify Inc. is up 3.33% in the last 3-month period. Year-to-Date the stock performance stands at 27.4%.
Shopify Inc. is a Canada-based company that provides a cloud-based commerce platform for small and medium-sized businesses. The Companys platform lets users to create their own online store. The Companys platform provides merchants to design, set up and manage their stores across multiple sales channels, including Web, mobile, social media, brick-and-mortar locations, and pop-up shops. Its platform provides a merchant a single view of their business. Its platform also provides merchants to manage all aspects of their shops: uploading products, customizing the design, accepting credit cards, and viewing their incoming orders and completed transactions. Its platform lets users to sell fashion, electronics, sporting goods, furniture and food, among others. The Companys platform offers over 900 applications.