Is Shopify stock oversold right now?

Today’s selloff pushed RSI near 16, which is deeply oversold on many playbooks. That can set up mean reversion, especially when paired with a bounce signal like the ATR/moving‑average trigger. Still, oversold can persist. We want confirmation via higher lows, stronger closes, and improving momentum before sizing up.

What price levels matter for SHOP in February?

We’re focused on the 200‑day near 136.95 for trend confirmation. A push toward US$150 is plausible if the historical one‑month rebound pattern repeats. On the downside, failed attempts to hold reclaimed levels would argue for patience. Volatility is high, so plan entries and exits around ATR and moving averages.

How does valuation affect a potential Shopify rebound?

Valuation is elevated at roughly 86.9x earnings and 14.5x sales, so the bar for positive surprises is high. Strong growth and improving margins help, but any miss or soft guidance can weigh on premium multiples. If earnings back the story, momentum can extend. If not, rallies may fade at resistance.

What should Canadian investors watch into earnings?

Watch Feb 11 results, margin trajectory, and updates on payments, shipping, and product attach rates. Track technical confirmation around the 200‑day, plus volume trends. TSX holders should factor FX when setting targets. Keep position sizes modest into the print and plan for potential gaps in both directions.

Global Market Insights

SHOP Stock Today: February 03 Oversold Signal Tees Up Rebound

ByHuzaifa Zahoor February 4, 2026February 4, 2026

Shopify stock is flashing a rare oversold signal today after tagging a six‑month low. RSI printed near 16, while a Schaeffer’s ATR/moving‑average trigger has, on average, led to one‑month gains of about 12%, implying room toward US$150 if momentum builds. The SHOP setup is drawing short‑term interest even as shares are down roughly 16% in 2026. We break down SHOP technicals, fundamentals, and key levels Canadians should track ahead of the Feb 11 earnings report.