When we last looked at Shopify (SHOP.TO) in the February 22d issue of the Daily Stock Report, its shares were under pressure following a disappointing earnings report. Relative strength continued to weaken afterward and the shares dipped down into the red zone of the SIA S&P/TSX 60 Index Report. In recent weeks, however, the shares have rebounded and returned to the Green Favored Zone for the first time since early February.
Shopify has moved up 23 positions in the last month, including a gain of 2 spots yesterday, and it is currently in 7th place.
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