Long Position on SHOP @ $137.00 on 2/28/2018 (Momentum)

Shopify Inc. (SHOP) provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally.

Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing. 

More than 600,000 merchants in 175 countries use Shopify's e-commerce platform. Customers using the Shopify platform for at least a year saw sales rise 20% from a year ago. In comparison, the National Retail Federation puts overall U.S. online retail sales growth at 11.5% in 2017 vs. 2016 during the holiday shopping season.

The company recently reported its quarterly results. Revenue rose 74% from a year ago to $128.9 million in the fourth quarter, while subscription revenue grew 67% to $93.9 million.

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

52-Weeks Trading Range: $58.63 - $146.12

Entry Point: $137.00

Stop Loss: $130.15

Target Price: $150.70        

Updates

3/21/2018 9:32:09 AM

SHOP closed at $153.50

Position closed on 3/21/2018 at price of $153.50 with a 12.04% gain in 21 days.

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