Upon the announcement of expanded partnership with Facebook ($FB) and Google ($GOOGL) for its one-click checkout to be made available to all merchants selling on Facebook and Google even if they do not use $SHOP, $SHOP broke out of its Cup and Handle chart pattern with a significant rally of +14.62%, triggering along with surge in transactional volume exceeding 100% of its 50D average.
With $SHOP making consecutive attempts to print a new all time high closing this week, a price action close above its mid-term trend channel is likely to impose a parabolical price surge in $SHOP in the next 2 weeks. 52 weeks high for $SHOP is at $1552.23.
$SHOP a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company’s platform provides merchants to run their business in various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders