Why is Shopify (SHOP) stock moving?

Shopify shares are in a clear downtrend. The stock fell from about 172-178 in mid-October to 156.22 on Nov 2, a drop of roughly 9% from the Oct 14 close. The most recent leg down came on Oct 30, when the stock fell from 166.89 to 157.49 on heavy volume of about 142k. Volume rose again on Nov 2 to about 167k, and the stock made new lows near 153. That suggests sellers are still in control. The 153-154 area is immediate support. Resistance sits near 165-168, where the stock failed in late October, and then near 178-180. Analyst sentiment remains supportive, with 41 buy ratings against 1 sell and about 13% implied upside to targets. That conflicts with the weak price action. I found only limited recent company-specific news, so the picture rests mostly on price and volume. The near-term bias is cautious, with a possible mean-reversion bounce if support holds.