Shopify ( SHOP) was downgraded by TheStreet's Quant Ratings service on Friday. Let's check on the charts and indicators to combine these two investment approaches. 
In our Nov. 30 review of SHOP we wrote that, "Despite positive sounding fundamental news, weakness in the broader market has me moving closer to the exit door. Traders who are long SHOP should consider booking some profits on available strength and raising stops to $1,480."
In the daily bar chart of SHOP, below, we can see that the shares have been weak since late November. SHOP has broken below the rising 200-day moving average line and has continued to slump lower. A test of potential chart support in the $1,100 to $1,000 area seems plausible.
The On-Balance-Volume (OBV) line has been weak since late November and tells us that sellers of SHOP have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator is bearish.
In the weekly Japanese candlestick chart of SHOP, below, we can see a large red (bearish) candle below the 40-week moving average line. This is a dramatic-looking-can't-ignore-it sell signal.
The OBV line is starting to show weakness and the MACD oscillator has been weakening for months and is not far above the zero line.
In this daily Point and Figure chart of SHOP, below, we see a potential downside price target in the $821 area.
In this weekly Point and Figure chart of SHOP, below, we can see a downside price target of $791.
Bottom-line strategy: Two of the three investment approaches (technical, fundamental and quantitative) are telling you to avoid the long side of SHOP.
