Shopify (SHOP.TO), has been on a relative strength roller coaster ride lately. A year ago, the shares climbed from the red zone to the green zone in the SIA S&P/TSX 60 Index report, then fell back into the red zone late last summer, and soared back up into the green zone in November.
In the last few weeks, relative strength has fallen off again, and SHOP.TO has dropped back out of the green zone and into the Yellow Neutral Zone. Over the last month, Shopify has dropped 24 spots to 25th position having declined 9.0% in comparison with a 1.65% gain for the S&P/TSX Composite Index over that period.
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