Shopify Earnings Due: Bullish Option Trade For Potential Upside Move | IBD | Summary and Q&A

TL;DR

Consider a long call option play in Shopify for its upcoming earnings report on February 15th.

Key Insights

• 🍵 Shopify recently broke out of a cup with handle base, suggesting potential upside.
• 🤩 The stock is currently pulling back but remains above key support levels.
• 🍉 Shopify's upcoming earnings report on February 15th could determine its short-term direction.
• 🖐️ Investors can consider a long call option play on Shopify for potential gains.
• ❓ It is important for investors to practice with a virtual account before trading options.
• 🌸 Options are complex and can result in a loss of 100% or more of the investment.
• ❓ Market Smith provides valuable analysis and insights for stock traders.

Transcript

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Questions & Answers

Q: What is the current technical condition of Shopify's stock?

Shopify recently broke out of a cup with handle base, but has pulled back for several days. It is currently above its 50-day line and may reach support at the 21-day line.

Q: When is Shopify's earnings report?

Shopify's earnings report is scheduled for February 15th.

Q: What is the expected earnings for Shopify?

Analysts expect Shopify to report a loss of two cents per share on revenue of 1.65 billion.

Q: How can investors play Shopify's upcoming earnings report?

Investors can consider buying a call option on Shopify to potentially capitalize on positive earnings results and subsequent stock gains.

Summary & Key Takeaways

• Shopify recently broke out of a cup with handle base and reached the profit zone, but has since pulled back for six days straight.

• The stock remains above support at its 50-day line and is potentially pulling back to reach support at the 21-day line.

• Investors can consider buying a call option on Shopify for potential gains following the earnings report.