SHOP - Shopify Prepares To Report Q1 Earnings: Charts Indicate Bullish Reversal Analysts Predict Downside | Benzinga
Shopify Inc (NYSE:SHOP) is reporting its first-quarter earnings on Wednesday. Wall Street expects 17 cents in EPS and $1.845 billion in revenues as the company reports before market hours.
The stock is up 18.44% over the past year but down 2.04% YTD.
Let’s look at what the charts indicate for Shopify stock and how the stock currently maps against Wall Street estimates.
Charts Indicate Bullish Reversal For Shopify Stock Ahead Of Q1 Earnings
The current technical trend for Shopify stock is strongly bullish, hinting at a bullish reversal from the recent downtrend.
The share price is above its 8-, 20-, and 50-day simple moving averages, indicating buying pressure and suggesting a positive outlook for future bullish movement.
Specifically, the 8-day simple moving average (SMA) is at $73.15, the 20-day SMA is at $71.60, the ...