SPOT| Potential Inverse Head & Shoulders for an Earnings pop
Updated
Hey all,
In purely technical terms, Spotify is preparing for an inverse H&S breakout back to ATHs.
Earnings tomorrow morning could be the catalyst for this breakout.
Fundamentally however, I'm slightly torn on the prospects of a beat and raise, as I doubt the fact that they will have kept up revenue growth to levels that will justify current Market Cap.
Interestingly the 295$ level has been previous resistance, support, and then resistance again over the past year or so.
Any thoughts on which scenario is most likely come tomorrow mornings ER?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
In purely technical terms, Spotify is preparing for an inverse H&S breakout back to ATHs.
Earnings tomorrow morning could be the catalyst for this breakout.
Fundamentally however, I'm slightly torn on the prospects of a beat and raise, as I doubt the fact that they will have kept up revenue growth to levels that will justify current Market Cap.
Interestingly the 295$ level has been previous resistance, support, and then resistance again over the past year or so.
Any thoughts on which scenario is most likely come tomorrow mornings ER?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
Note
Or the complete opposite LOL. Sheesh this has shed a lot very quickly.
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