Shares of Shopify surged as much as 25% following the company’s impressive third-quarter earnings report, which exceeded analysts’ expectations. The e-commerce giant reported earnings per share (EPS) of $0.35, surpassing the anticipated $0.26. Meanwhile, its revenue reached $2.16 billion, above forecasts of $2.12 billion. This strong performance, along with Shopify’s optimistic holiday outlook, helped push Canada’s S&P/TSX Composite Index to a record high of 25,025, up 1% for the day.

Shopify Projects Strong Q4 Growth

SHOP/USD – Price Chart

Shopify also forecasted mid to high-twenties percentage growth in fourth-quarter revenue, surpassing FactSet’s estimated 23% growth rate. This positive outlook is largely driven by anticipated robust holiday spending and the company’s continued success in securing high-profile partnerships with major retailers like Reebok, Hanes, and Vera Bradley.

Shopify president Harley Finkelstein emphasized the company’s strong position to capture further market share. Moreover, he highlighted its appeal not only to small businesses but also to established brands seeking e-commerce solutions. The company has been expanding its offerings, including AI-powered tools aimed at enhancing the merchant experience and boosting online sales.

Analysts, including those from Citi, remain bullish on Shopify, noting its large addressable market, favourable industry trends, and significant growth potential. The stock’s 43% year-to-date rise reflects investor confidence in its growth trajectory. Meanwhile, Canada’s benchmark index has gained over 19% in 2024. The latest earnings further reinforce Shopify’s status as a key player in the e-commerce sector, positioning it well for long-term growth.

Shopify Stock Chart Analysis

The chart for Shopify Inc. (NYSE: SHOP) shows significant volatility following the release of its Q3 2024 earnings report, where the stock jumped over 20%, reaching a high of $114.50. This surge reflects positive investor sentiment due to Shopify’s strong earnings, with revenue of $2.16 billion beating forecasts and net income reaching $828 million.

However, after the initial spike, the stock experienced a pullback. By the end of the trading day, Shopify closed at $108.92, a 21.04% gain. Pre-market trading indicated a further dip to $107, down 1.76%, though. This correction suggests that, while investors are optimistic about Shopify’s growth, some are taking profits after the substantial rally.

Despite the pullback, Shopify’s ability to maintain strong earnings growth, supported by new partnerships and technological initiatives, keeps its long-term outlook positive. The projected revenue growth for the holiday season also bolsters confidence. However, the stock’s high volatility may be a concern for more risk-averse investors.

With a significant rise from its low of $85.54 earlier in the year, Shopify’s stock remains in an upward trend. However, short-term fluctuations are likely as investors digest the earnings data. Current levels could present an entry point for long-term investors confident in Shopify’s growth trajectory.

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Tencent Holdings Ltd (HK:0700) reported robust third-quarter results, surpassing profit expectations primarily due to strong growth across its gaming, advertising, and cloud segments.

Profit attributable to shareholders surged 47% year-over-year to 53.23 billion yuan ($7.37 billion), well above LSEG’s forecast of 46.18 billion yuan. However, revenue came in slightly below estimates, rising 8% to 167.19 billion yuan against an expected 167.82 billion yuan.

Gaming and Advertising Drive Strong Q3 Growth Amid Global Expansion

Gaming remains a cornerstone of Tencent’s business, contributing significantly to its growth. Domestic gaming income rose 14% year-over-year to 37.3 billion yuan, driven by new releases and sustained engagement with popular titles.

The international gaming segment also performed well, with revenue up 11% to 14.5 billion yuan in constant currency, highlighting the company’s ability to expand globally and leverage its gaming portfolio’s “evergreen potential.”

The marketing services segment, previously classified as online advertising, grew 17% to reach 29.99 billion yuan, emerging as one of Tencent’s fastest-growing divisions. This growth reflects strong demand for advertising in Tencent’s ecosystem, especially on Weixin (WeChat), where short videos, mini-programs, and search functions are increasingly popular among advertisers.

Tencent’s results indicate a successful diversification strategy, with promising expansion in advertising and international gaming markets. While revenue growth slightly missed expectations, the profit beat underscores operational efficiencies and resilient demand across its core and emerging segments.

Tencent’s Stock Chart Analysis

Tencent Holdings Ltd (HK:0700) recently saw its share price decline following a period of selling pressure. The 15-minute candlestick chart reveals the stock experienced a steady drop from around 423 HKD to a low of 396 HKD over the last few days. This downtrend could reflect profit-taking by investors or market reactions to broader economic uncertainties, despite Tencent’s strong quarterly earnings report.

In the third quarter, Tencent reported a notable 47% increase in net profit to 53.23 billion yuan, surpassing expectations. Key drivers included strong performance in its gaming and advertising segments. Domestic gaming revenue grew 14%, while international gaming saw an 11% rise, underscoring Tencent’s diverse portfolio and ability to maintain high engagement across markets.

Additionally, the marketing services segment (formerly online advertising) recorded a 17% year-over-year increase, bolstered by demand for short video and mini-program advertising on WeChat.

The recent upward movement from the 396 HKD low could indicate a reversal as buying interest returns around a support level. Investors may view the stock as attractive again after the recent dip, supported by Tencent’s earnings strength. Further upside could be anticipated if the stock maintains support near this level and broader market sentiment stabilizes. However, a break below this support could suggest continued volatility in the near term.

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Overall Analysis

Bitcoin’s sharp rally towards the $88,398 level has sent the crypto market sky-high after the US election results.
Ethereum surged by +5.91% on November 11th, currently testing a resistance level.

Bitcoin Chart Analysis

BTC/USD 15-Minute Chart (Source: TradingView)

On the November 11th, 2024, trading session, Bitcoin marked another all-time high of $88,398. The price has continued to set new all-time highs for the last seven trading sessions, delivering 30% returns to traders and investors since the US election results.

Currently, on both the daily and hourly time frames, the BTC price is in an overbought scenario and has been for an extended period. The price is advancing without forming clear swings or pauses, making it challenging to determine precise entry or exit points. Targets can be set using a trailing stop-loss strategy based on the previous candle’s low.

On the 15-minute time frame, the price continues to move upwards in a channel-like structure. Additionally, the RSI shows signs of cooling off after each rally.

Below are a few entry triggers:

The price is currently moving within a channel-like structure. If it takes support from the supporting trendline, buyers may consider entering with a stop-loss placed below the previous swing low and a target set at the resistance trendline.
If the price breaks below the supporting trendline and continues its decline, sellers may consider entering with a stop-loss above the previous swing high and targets set at $84,000 and $81,700, using a trailing stop-loss strategy.

Ethereum Chart Analysis

ETH/USD 15-Minute Chart (Source: TradingView)

On the November 11th, 2024, trading session, Ethereum rose by +5.91%, delivering 41.67% returns to traders and investors since the US election results.

Currently, on the daily time frame, Ethereum has been in an overbought scenario for the last three trading sessions. It is facing rejection near the $3,373 level, which aligns with its previous swing high. The price needs to pause around this area to facilitate a continuation of the rally.

On the 15-minute time frame, Ethereum’s price can be seen breaking out of patterns. A previous “peanut breakout” facilitated a rapid upward move. Currently, the price is forming an ascending pattern near the $3,373 resistance level. A breakout could trigger a strong rally.

If the price breaks above the $3,373 level and sustains it, buyers may consider entering the trade with a stop-loss placed below the previous swing low and targets set on a trailing basis.

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Overall Analysis

Oil tanked more then -1.98% on Friday’s trading session, broke major supporting trendline and sustained below it. 
Natural Gas down by almost -1%, breaking the supporting trendline, currently at major level. Breakdowns may trigger massive selling. 

Oil Chart Analysis 

Oil/USD- 15 min time frame 

On the 8th November 2024 trading session, oil tanked more than -2%, breaking all the major supporting trending and closing below it. Price currently settled below the previous swing breaking the uptrend price action. 

Looking at the price on hourly time frame, it might create a double top pattern and close below the neckline, triggering selling on hourly time frame too. The price was moving in an uptrend with higher high and higher low swing creation, finally breaking it on 8th November 2024. 

Currently, in the 15 min time frame, the price is taking a halt after a major fall, creating an ascending triangle like structure. The price might go up to retest 0.5 feb retracement level of the fall or it can retest the supporting trendline. Thus far, it remains properly in the selling trend, indicating a few entry triggers mentioned below. 

If the price goes and retests previous supporting trendline and fails to close above it then sellers can consider entering the trade with a stop loss above previous swing high and target till 70 level. 
If the prices continue in the selling trend and continue below 69.86 level, then sellers may enter the trade with a stop loss above the previous swing high and target till 69.23 level. 

Natural Gas Chart Analysis 

Natural Gas/USD 15 min time frame 

On the 7th November 2024 trading session, Natural Gas initially moved in the zone and faced support and resistance from the trendlines. The price fell sharply in the second half after rejecting from the resistance trendline, breaking the supports and settling below them. 

On a daily time frame price can be seen shrinking. If it closes above 2.8695 level, it will trigger favorable conditions for the trending market. In the hourly time frame, the price was creating a peanut pattern, finally breaking it on 8th November 2024. The coming trading session will decide the direction. 

Currently on a 15 min time frame price might break the supporting trendline of the peanut pattern and sustain below it. Moreover, it might take support from the 2.7507 level, respecting the previous support. 

If looking for an entry trigger then there are few mentioned below. 

If the price went up for breakdown retesting then the seller may consider entering the trade with a stop loss above the previous swing high and target till 2.7507 level.
If the price continues selling and breaks the 2.7507 level, then sellers may enter trade with a stop loss above the previous swing high and target till 2.6901 level. 

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Overall Analysis

The Dollar Index continues its rally to the upside, with price action showing weakness on the daily and hourly time frames.

Chart Analysis

USD 15-Minute Time Frame

On November 11, 2024, the Dollar Index increased by 0.50%, currently trending upwards within a channel. The price might face strong rejection at the 105.77 level, as the previous swing high will act as resistance.

On the daily time frame, the price broke out of a flag-and-pole pattern on November 6, 2024, and continued its rally. Currently, the price might face rejection at the 105.77 level, which is a strong resistance area. The price has moved up without pausing. However, it needs to close above the 105.77 level on the daily chart to continue the uptrend.

On the 1-hour time frame, a strong upward channel is visible, creating key support and resistance levels. If the price fails to stay within the channel and breaks down, selling pressure could push the price down to the 104.80 level.

In the 15-minute time frame, there is strong momentum for the uptrend within the channel structure. Compared to the hourly and daily time frames, the 15-minute time frame shows more strength.

Overall, on higher time frames, the price has moved up quickly without forming significant swings or pauses, weakening the trend. In contrast, the 15-minute time frame has shown proper swings and enough pauses, making it safer for short-term traders.

Entry Triggers

For potential entries, here are the triggers to consider:

If the price on the 15-minute time frame breaks the supporting trendline and sustains below it, sellers may consider entering the trade with a stop loss above the previous swing high and target levels at 105.30 and 104.90, based on a trailing stop.
On the daily time frame, if the price closes above the 105.77 level, positional buyers may consider entering the trade with a stop loss below the previous candle’s low, targeting 106.31 and 107.03 on a trailing basis.
On the 1-hour time frame, if the price breaks the supporting trendline and continues below it, sellers may consider entering the trade with a stop loss above the previous swing high and a target of 104.80.

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Overall Analysis

Bitcoin made an all-time high of $81,751, continuing its rally for six consecutive trading sessions. Trump’s win has fueled Bitcoin’s rise.

Ethereum successfully closed above a major resistance level, and the rally seems poised to continue upward.

Bitcoin Chart Analysis

BTC/USD 15-Minute Time Frame

On the November 10, 2024 trading session, Bitcoin surged nearly 6%, reaching a new all-time high and extending its rally into the next session. Moreover, the price is currently in the overbought zone.

On the daily time frame, Bitcoin has formed six consecutive green candles, continuing its upward movement without any pause. The RSI on the daily chart also indicates overbought conditions, making it challenging for positional traders to hold their trades.

In the 15-minute time frame, price action continues to move upward, forming higher highs and higher lows, with the RSI remaining in a safe zone. Besides, the price is currently trending within a channel, maintaining its bullish structure.

For potential entries, consider the following triggers:

If the price pulls back to the supporting trendline, buyers may consider entering with a stop loss below the previous swing low and target based on a trailing basis.
If the price breaks below the supporting trendline and sustains under $79,720, sellers may consider entering with a stop loss above the previous swing high and targeting the $77,368 level.

Ethereum Chart Analysis

ETH/USD 15-Minute Time Frame

On November 10, 2024, Ethereum continued its upward rally on both daily and 15-minute time frames. As of November 11, Ethereum appears to be consolidating on the daily chart, thus, allowing for potential new entries from buyers.

After breaking a major resistance level, Ethereum sustained its upward movement for three consecutive sessions. Currently, the price is consolidating, and if it breaks above the consolidation candle, positional buyers might consider entering the trade.

The price is following a higher high and higher low pattern, finding support from the trendline, with the RSI confirming the price action. Here are some potential entry points:

If the price breaks below the supporting trendline on the 15-minute time frame and continues its downward movement, sellers may consider entering with a stop loss above the previous swing high, targeting the $3,056 level.
If the price bounces off the supporting trendline, buyers may consider entering with a stop loss below the previous swing low, targeting the $3,237 level.

Both Bitcoin and Ethereum are currently in overbought territory on the daily time frame, so an abrupt pullback could occur. It is strongly recommended to use strict stop losses.

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Overall Analysis

EUR/USD: After breaking the upward channel, the pair continues to fall but is now facing support at the 1.06839 level.
EUR/GBP: The pair failed to sustain higher levels. The price fell sharply and is currently near intraday resistance.

EUR/USD Chart Analysis

EUR/USD 15-Minute Chart (Source: TradingView)

On the 8th of November 2024 trading session, the EUR/USD pair closed at -0.88% after sustaining a sideways scenario during the first half and then falling sharply towards support in the second half of the session.

Currently, on the daily time frame, the price attempted to move upward but faced rejection and fell sharply toward the support level. The 1.06827 level serves as a crucial support area, and a price close below this level could trigger massive selling.

On the 15-minute time frame, the price can be seen retesting the 1.06874 level repeatedly. This is a crucial support level on both higher and lower time frames. If looking for an entry trigger, a few options are mentioned below:

Bullish Scenario: If the price again fails to close below the 1.06827 level, buyers may consider entering a trade with a stop loss below the previous swing low and a target at the 1.07213 level.
Bearish Scenario: If the price continues to close below the 1.06827 level, sellers may consider entering a trade with a stop loss above the previous swing high and targets at 1.06518 and 1.06271 levels. Ensure the RSI is not in an oversold scenario.

EUR/GBP Chart Analysis

EUR/GBP 15-Minute Chart (Source: TradingView)

On the 8th of November 2024 trading session, the pair showed selling pressure within the channel while forming a lower-low and lower-high pattern. The price remained in the zone for the last three trading sessions but broke the pattern downward on the 11th of November trading session.

The pair has broken the major support level of 0.83061 and sustained below it on the daily time frame, clearly indicating strong selling pressure. The pair has been closing in red for the last five trading sessions after rejecting resistance at the 0.84470 level.

As the price breaks the support level and sustains below it, it activates a selling trend. The following outlines the entry triggers:

Bearish Scenario: If the price consolidates below the support level and breaks out from the consolidation area, sellers may consider entering a trade with a stop loss above the previous swing high and a target at the 0.82498level.

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Tesla’s stock has recently surged, reflecting a renewed synergy between CEO Elon Musk and President-elect Trump. The company’s valuation exceeded $1 trillion for the first time in over two years. Shares of the electric vehicle (EV) giant rose by 8.2% to $321.22. This rally was fueled by Musk’s endorsement of Trump’s campaign and expectations of regulatory advantages under the new administration.

How Musk-Trump Alliance Could Accelerate Autonomous Driving Advancements

Elon Musk, a vocal supporter of self-driving technology, could benefit if Trump assists entrepreneurs by addressing regulatory bodies. Garrett Nelson, a senior equity analyst at CFRA Research, highlighted the likelihood of a Trump administration implementing regulatory changes to support Tesla’s autonomous driving project. Such changes could reduce bureaucracy and grant Tesla a fast track to advanced features.

Trump, who has been a historical sceptic of EV incentives relating to energy policies, promoted Musk as a “super genius”, adding that, that would lead to cosy agreements in the case where Tesla’s invention becomes relevant to national priorities.

Additionally, Trump’s support may help delay or ease scrutiny from the National Highway Traffic Safety Administration (NHTSA) concerning Tesla’s Full Self-Driving (FSD) systems. The NHTSA had recently initiated an evaluation following reports of accidents in challenging visibility conditions, such as fog or glare. A delay in regulatory actions could allow Tesla to make refinements to its software without facing immediate penalties.

Tesla’s stock has risen 29% over the past week, adding a massive $230 billion to its market cap. Investors appear to view this political alignment as a unique opportunity for Tesla to push boundaries in autonomous driving, further strengthening its leadership in the EV sector.

Tesla Stock Chart Analysis

TSLA/SUD 15-Minute Chart

Reviewing the performance of Tesla shares in the chart above, we can observe a robust rally. Very recently, the price surged to over $320. The stock closed at $321.22, marking a massive rise of 8.19%.

The gradual rise of the stock indicates growing investor confidence. This confidence may stem from the prevailing market situation. It could also be attributed to new developments related to Tesla and its CEO, Elon Musk.

The stock recently reached a close maximum of $328.71 in the latest recorded session. This level could act as a significant headway. It is worth keeping a close watch on the resistance line. Breaking through this line might be challenging.

The Relative Strength Index (RSI) is currently 71.08, indicating that Tesla may be overbought. This high RSI suggests we might see a pullback or a period of consolidation as some investors take profits after the recent surge. Still, the trend remains bullish, with buying pressure supported by recent spikes in volume.

As we look ahead, there’s a good chance of continued volatility, especially with Tesla’s next earnings report coming up in 72 days. We’ll want to watch if the price retraces towards the $300 support level, where it previously consolidated.

If Tesla breaks past $328, we could see further upside, potentially driving the stock to new highs above $340. For now, we’re in a strong position, but should stay cautious of potential short-term corrections due to the overbought RSI and rapid recent gains.

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SoftBank Group should report a quarterly profit of around 287 billion yen ($1.87 billion), marking a significant rebound from its 931 billion yen loss during the same period last year. Favorable portfolio company listings and the strengthening yen against the dollar have largely driven this turnaround, boosting SoftBank’s stock price.

MST analyst David Gibson forecasts a $3.9 billion rise in investment profit for the quarter. Significant income came from the IPOs of two Indian companies: Brainbees Solutions, contributing around $0.9 billion, and Ola Electric, adding approximately $1 billion.

SoftBank’s AI Ambitions and Rising Investments Signal Bold New Moves

The market is eager to see if SoftBank, led by visionary CEO Masayoshi Son, will sustain its investment momentum, especially in artificial intelligence (AI). Son, who spoke about reserving tens of billions of dollars for significant future investments, recently increased SoftBank’s investment pace to $1.9 billion in the April-June quarter. This marks a considerable rise from $0.3 billion in the first quarter of 2023.

A particularly intriguing development is SoftBank’s exploration into AI chip production, potentially positioning itself as a competitor to Nvidia. This could involve leveraging its 90% stake in the chip designer Arm, possibly through a partnership with recently acquired chip manufacturer Graphcore.

In a recent quarter, SoftBank made an Arm licensing deal worth $43.2 million. This move could support its broader AI ambitions. Analysts are closely monitoring these strategies. They could reshape SoftBank’s portfolio and influence the AI market.

SoftBank Stock Chart Analysis

SFTBY/USD 15-Minute Chart

Looking at Softbank Group Corp (SFTBY) stock on this 15-minute chart, we can observe the unfolding of some exciting dynamics. The stock is currently at $30.37, which is, in fact, a small increase of 0.10%.

A strong resistance at $31.70 has prevented further upward movement, while the nearest support is around $28.51. The stock’s slow movement suggests it is in a consolidation phase. Investors should prepare for either a breakout or a breakdown.

The RSI indicator stands at 46, indicating neutral momentum. We’re not quite in the oversold territory, which would suggest a buying opportunity, nor in the overbought range that might signal a sell. When the RSI dips below 30, it indicates a potential buying opportunity. Conversely, when the RSI moves above 70, it suggests the stock might be overextended.

In the short term, if there is a breakout above $31, this might bring out a bullish feeling with the targets being higher. On the other hand, if the stock dips below $28.51, the downtrend could still be unchecked.

We will want to check the volume to verify either a breakout or a breakdown as the strong volume would increase the confidence to move. Maybe it’s time to watch SFTBY very closely to determine whether the price will go up or down.

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