If you follow the stock market, and the big names in it, you will know that Shopify has been on a rampage. But, SHOP has recently pulled back into a zone that I think counts as solid support. In doing this it made an inside candlestick pattern yesterday.
Inside patterns are tricky ... they can be continuation or reversals. However, this particular inside candlestick is right at good support (what I think is good support anyways), and it had good volume. This tells me that this particular inside pattern is leaning to to the reversal side for SHOP. I will keep my eyes open and look for a close above the big candle. If it does that, I may enter long and ride it up to its all-time high.
Inside patterns are tricky ... they can be continuation or reversals. However, this particular inside candlestick is right at good support (what I think is good support anyways), and it had good volume. This tells me that this particular inside pattern is leaning to to the reversal side for SHOP. I will keep my eyes open and look for a close above the big candle. If it does that, I may enter long and ride it up to its all-time high.