Hi Shoppers,

The Shopify (Ticker: SHOP) chart is not looking so good:

It has had two very bearish down days and twice closing below the 50 day moving average.

It looks to me like it has further to fall.

The next support level comes in right around $54.50.

Here are the Aug18 puts:

The 59/54 put vertical may not be a bad play for a move lower.

Use a close over $60 for your stop loss in case SHOP decides to rally.

Thanks for Reading … See You Next Tuesday,

Licia Leslie