Shopify Hammers $105 Bottom – $122 Breakout LoadingShopify, Inc. Class ABATS:SHOPDEXWireNewsSHOP trades at ~$121.95 (up +0.73% intraday on 1H chart), showing solid recovery momentum after bottoming near $104.92 in early 2026. The stock had a strong run through 2025, peaking near $182.18 in late 2025 on e-commerce and merchant growth, before a multi-month correction erased much of the advance. Key observations: - Downtrend from Nov 2025–Feb 2026 formed lower highs/lows with heavy selling. - Recent price action bounced decisively off $104–$105 support, forming higher lows and reclaiming $120+ zone with volume pickup. - Momentum turning bullish; holding firmly above the 50-period MA. Analytical buyer outlook: - Upside trigger: Break $125–$128 on volume — targets $135–$145 retest. - Support to defend: $118–$120 zone; break risks pullback to $110–$112. - E-commerce recovery, merchant adoption, and AI features remain key tailwinds. Verdict: Correction exhausted — bullish reversal underway. Buyers dominant near $120–$122. Constructive setup if $125 clears; bias positive.