Shopify (SHOP) stock price edged slightly higher in its latest intraday trading, amid continued negative pressure from trading below its 50-day SMA, which reinforces the stability and dominance of the short-term corrective bearish trend, while moving alongside a trend line supporting this path, as the stock attempts through this rise to recover part of its previous losses, while also trying to relieve part of its clear oversold condition on the Stochastic indicators, especially with the beginning of a positive crossover appearing on them.

Therefore we expect the stock price to decline in its upcoming trading, as long as it remains below the $105.00 resistance level, targeting the first support level at $88.00.

Todays price forecast: Bearish