Today’s Research Reports on Trending Tickers: Shopify and Square

NEW YORK, NY / ACCESSWIRE / June 5, 2018 / Wall Street closed up Monday on the back of strong performances by the consumer discretionary and technology sectors. Investors appear to be focusing on positive economic data, instead of recent geopolitical concerns. The Dow Jones Industrial Average increased 0.72 percent to close at 24,813.69, while the S&P 500 Index climbed 0.45 percent to close at 2,746.87. The Nasdaq Composite Index was up 0.69 percent to close at 7,606.46.

“Latest economic reports indicate that consumers finally have confidence and extra income to spend on big-ticket items. Really low levels of unemployment and underemployment bode well for the retail sector and the market in general,” said Diane Jaffee, senior portfolio manager at TCW Group.

“It is always a plus to have a tech behemoth like Apple touching all-time highs, since Apple makes up such a huge part of all three major indices,” said Ken Berman, strategist at Gorilla Trades.

RDI Initiates Coverage on:

Shopify Inc.
https://rdinvesting.com/news/?ticker=SHOP

Square, Inc.
https://rdinvesting.com/news/?ticker=SQ

Shopify’s stock jumped 4.05% Monday, to close the day at $156.91. The stock recorded a trading volume of 1,622,370 shares, which was below its three months average volume of 1,838,823 shares. In the last year, Shopify’s shares have traded in a range of 81.55 – 157.86. The share price has gained 92.41% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $136.95 is above its 200-day moving average of $125.30. Shares of Shopify have gained roughly 15.26 percent in the past month and are up 55.36 percent year-to-date.

Access RDI’s Shopify Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SHOP

On Monday, shares of Square recorded a trading volume of 10,717,891 shares, which was below the three months average volume of 12,700,985 shares. The stock ended the day 3.01% higher at $61.20. The share price has fallen 0.47% from its 52-week high with a 52-week trading range of 22.41 – 61.49. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $52.63 is above its 200-day moving average of $46.30. Shares of Square have gained roughly 24.64 percent in the past month and are up 76.52 percent year-to-date.

Access RDI’s Square, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SQ

Our Actionable Research on Shopify Inc. (NYSE:SHOP) and Square, Inc. (NYSE:SQ) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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