Could SHOPIFY INC Lose its Strength? The Stock Reaches 52-Week High

 Could SHOPIFY INC Lose its Strength? The Stock Reaches 52 Week High

The stock of SHOPIFY INC (TSE:SHOP) hit a new 52-week high and has $97.39 target or 61.00% above today’s $60.49 share price. The 6 months bullish chart indicates low risk for the $4.52B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $97.39 price target is reached, the company will be worth $2.76B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 84,710 shares traded hands. SHOPIFY INC (TSE:SHOP) has risen 49.51% since April 15, 2016 and is uptrending. It has outperformed by 45.65% the S&P500.

More important recent SHOPIFY INC (TSE:SHOP) news were published by: Fool.com which released: “Shopify Inc. Revenue Soars 89%” on November 03, 2016, also Fool.com published article titled: “Shopify Inc. Keeps Growing”, Fool.com published: “Why Analysts Are Upgrading Shopify Inc Stock” on August 27, 2016. More interesting news about SHOPIFY INC (TSE:SHOP) was released by: Businesswire.com and their article: “Shopify Announces Director Resignation” with publication date: November 18, 2016.

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