SHOP Trade on Jun 14, 2021 10:49 from MichaelBLe: Tradervue User Stock Trades.

Entry: 1283.88
Risk: 1248

Took this position long after a break in a cup and handle base. Going to wait towards the end of the day to add another additional lot of shares. Will go with 10 shares next if we close strong...

The fundamentals are decent. Triple earnings and sales growth. It seems like Q1 is typically slow for SHOP. This may be due to the fact that people are spending less money after the holidays? I'm not quiet yet. We have a base on base since September. Good base to potentially work our way higher.

The RS rating is a ugly 69. Typically, I would like to see ratings of at least 80%. But it's not a deal breaker for me..

6-15
8:44AM
Market is starting to push me out of my positions. I took 2 small losses and SHOP isn't able to build upon a large move this morning quite yet. I moved my remaining shares up higher do not expect this to go against me unless a major gap down. A lot of stocks went red for the day. Will let the market play out before I take any new positions.

6-17
7:05AM
I took off another 1/5th of my position as it seems to be getting pretty steep on the daily chart. Going to continue to shed off a little bit of my position at a time for now. Initial risk is covered so I can be more patient with taking the rest of it.

7:09AM
I took off another 1/5 as we approach 1400... I didn't want to, this is my greed talking but I should... A consolidation may and should be happening soon to recharge for another big run. Locking in some higher price sell averages would be nice before it pulls back and consolidates. I have a tendency to give back a big portion of my gain during this pullback and consolidation phase.

6/18
6:55AM
Taking off another 1/5th and down to my last 1/5 of the position. I'm being cautious as VIX is extremely low and we are near market highs without much power. Jim said he is worried when the market is in this exact condition. I'm going to reduce exposure here throughout the day.

7-1
The stock is consolidating sideways after a huge run up. The volume has been low on this consolidation which is perfect.

A potential area for me to add into this trade is the rising 20ema on the daily chart. Possibly during next week. That would set up a 3 weeks tight on the weekly chart.

7-6
8:00AM
I added back some shares here as we are showing some signs of a strong start to the week for the old software leaders. SHOP held up nicely as it consolidated on low volume. Move my stop up to break even on the rest of the shares. Won't let it all go to break even of course.