The SHOP (Shopify Inc) swing trade exceeded the max. suggested stop of a daily close below 165 with a closing value of 167.17 on Sept 20th & the stock closing below 165.00 every day since. This resulted in a net loss of 13.65% or a beta-adjusted loss of 12.2% on the trade.
SHOP daily Oct 2nd
Based on the current technical posture, the recent rally appears to be a counter-trend bounce that has likely run its course & with the PPO rolling over while the stock is coming off overbought levels. As the intermediate to longer-term outlook remains bearish at this time, SHOP is under consideration for another short entry.