Shopify - Why I bought on Sept 4, 2020

in #tradinglast year

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.

shopify-chart.png

My reasons for buying were:

  • 3 days of selling pressure
  • Big reversal off the lows of the day
  • 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?

Thanks,

Mike

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