SHORT ROKU ROKU has moved unexpectedly and currently it's at price of the next 5 year business PE booking. So so overvalued.
My first target is 300
With SL of 378
Spotify
US Stock In Play: $SPOT (Spotify Technology S.A)The successful breakout of $SPOT that was previously highlighted (a five months consolidated range pattern), have seen Spotify rallied to an all time high establishment at $346.44 on 11th December 2020. This breakout is also accompanied with its ATR (14D) peaking at $15 per day average volatility, signifying substantial attention of $SPOT from the Wall Streets at the moment.
This week, $SPOT have not been able to capitalize on the broad market rally, with an accumulated correction of -5% from its peak. The current immediate support to watch is at $312 this week.
Spotify (SPOT): A Technical Approach Using Elliott WavesIn this analysis, I'll be taking a purely technical approach in analyzing Spotify (SPOT), using Elliott wave counts.
Analysis
- We can see that overall, the stock is in a clear uptrend
- It has completed wave 2 on the primary degree, and continues to rally through impulse waves
- It formed an Elliott triple combo wave (WXYXZ) for the second primary wave, consolidating within a mild megaphone pattern
- While it seems like the momentum has topped out for now, as we wait for the fourth wave on the minuette degree, we could expect a bounce near the ichimoku cloud support
- We could anticipate the last impulse wave on the minuette degree ending near the 1.618 fibonacci retracement resistance, near $376
- This would also mark the completion of the first impulse wave on the intermediate degree
For educational content regarding Elliott Impulse Wave counts, check out my previous post below:
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Expecting a +30% Move on Spotify in the Short TermGood morning traders! Today we want to analyze Spotify, since in recent days much has been said about this stock and its movement in recent weeks has been remarkable.
🔸What we can observe is that from March to July of this year the price generated an astonishing rise of approximately 170%.
🔸Of course, after a strong move, a consolidation or correction of a similar magnitude is expected.
🔸So it was, the correction lasted approximately four months, and we can draw a flag pattern of this process.
🔸This week there was a clear and indisputable breakout to the upside, with a large bullish candle closing above all-time highs.
So, how do we project the target of the movement in this case that the price is at historical highs?
🔸The tool we use is the fibonacci extensions based on the previous momentum. This projection gives us that the first target of the movement is approximately $351 and the second target $417, which would be, from the current level, a rise of 30%.
US Stock In Play: $SPOT (Spotify Technology S.A)$SPOT have broken out of a five month ascending triangle (consolidated) pattern, rallying to an all time high untracked prize zone. This breakout is accompanied with substantial volume exceeding 300% of its 50 days average.
At the current closing price of $320.89, $SPOT is slated to sustain this rally towards $380 (Fibonacci Projection), a modest +18% away from today.
testing resistance for fourth time's the charm?the sun will shine and we will try again, am i right?
Spotify Ascending Wedge- 22% Long positionOn the 2hr chart there is an ascending wedge where spotify is clearly trading in between. If all goes well, it should bounce off the bottom white line of the wedge, if not it should bounce off around the yellow support line (in theory). If it bounces from the white support line we can expect a 22% gain in a long term position.
My idea of a swing trade would be:
1. Would buy before the white support line and sell at the top.
2. Stop- loss just beneath the yellow support line
What do you think?
SPOTIFY - buy support zones analysisHello traders,
Description of the analysis:
Spotify Technology ( SPOT ) support zones ideal for timing long positions (gray). A possible correction could provide a shopping opportunity in interesting volume zones. It is definitely worth following further developments. The thickness of the support zone reflects the importance of this zone.
About me:
Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund (over $4.000.000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades.
Jacob
$SPOT - Possible Wave 5 ($300+ PT) Elliot Wave AnalysisTony's Picks
I enjoy analyzing charts and have come across this interesting idea that I would like to share for discussion.
This daily chart for $SPOT shows textbook Elliot Wave Theory formations. Starting its IPO in 2018, Spotify immediately underwent a complete Elliot Wave Trend. Following this trend is a long Flat counter trend. In purple font color the standard 3-3-5 wave pattern that commonly makes up a Flat counter trend is shown. After the counter trend is complete a new Elliot Wave trend begins. Upon tracing a fib on wave 3 we can see a great support were we would expect at the .618 fib priced at $220. Since $220 support is held I see wave 5 beginning (or already begun) with upside of at least $300. Closely following this idea to see how it plays out.
***At time of writing this post I DID NOT own shares of SPOTIFY ($SPOT)***
Curious if there are any thoughts and/or comments, I read all feedback!
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(Disclaimer: I am not a financial advisor and this is not investment advice, this is my opinion only and is solely for entertainment purposes)
Our Stock of the Day / SPOTToday we have a Swing trade to share; consider that this type of setups can take months until an exact resolution. Here we will give you a full explanation.
Main items we can see on the chart:
a) The price was inside a Huge range that has been broken; a good way to understand the target of the broken range is to extend the size of it towards the broken side
b) We can see that the price reached that extension, and after that, a corrective structure was formed
c) The current corrective structure is an ABC pattern with great proportions with the previous impulse. Based on that, we consider that the structure is completed
d) Now we want to trade the breakout of the ABC or ZIG-ZAG pattern
e) We have our Entry orders above B and our Stop below C. We are using Fibo Extensions to define our Take Profit (1.618 level ) and Break-Even (1.272 level)
f) IF the setup is executed, we expect a resolution between 100 and 150 days
g) We will take the risk of 1% of our Capital on this setup
h) We will cancel the setup IF the price makes a new low below C
i) Remember: Trade Safe, protect your Capital, and always understand what you are doing!
$SPOT New Lazy Elliott Fibonacci PlotIt has been months since I last plotted this and it exceeded expectations.
Initial assumption on the left retracement is that the subwave impulse is complete and is doing a long correction.
Good base so far.
Take note of the following:
>It can rally until the 100% of the right retracement if the overall market sentiment is positive.
>Otherwise, expect the stock to do another leg down at least near the 38.2% level.
>Probably an ongoing major Wave 2.
Good luck!
Massive Bullrun Into Earnings | Moving In Divergence $SPOTIt's time to unload on longterm shares. No one is paying attention to Spotify SPOT . Media outlets and even us traders have both been rather silent on Spotify and it's movement.
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This stock currently sits above what has proven to be a temp support @ $230 . We have a monthly support @ $227
Watching the orange downtrend as previous resistance, we just saw a confirmation of this breakout today.
Possible long on a break of downtrend with next resistance @ $242.
Upside targets: $242, $265, $284.
Possible Short Entry: $220
DotcomJack | Thanks for the support!
Bless up traders
SPOT has been on a tear in 2020.. but will it continue?Diving into SPOT, if you've been in this stock this year you've probably been pretty happy with the performance. With a number of big product releases and the effects of JOE ROGAN and MICHELLE OBAMA signing exclusive deals to drive subscribers, the stock pumped so fast from around $180 to nearly $300, that if you blinked you probably missed it.
Well, what now? Do you buy at these levels, do you wait? Whats this company really worth?
Obviously SPOT has a lot of competition. With AAPL launching their new subscription service packages that basically will force me to have Apple Music, and AMZN launching podcasting on their music service, how many music services does one person need?
I still love my SPOT subscription more than any other service option out there. That's what keeps me believing in this stock. I don't want to ever give up my Spotify, and I bet most others don't either. I'm willing to put my money where my mouth is.
Remember NFLX just 5 years ago? That might be where SPOT is today. It's worth considering.
Now let's look at the chart. I've drawn an Elliot Wave pattern in there, and what a correction might look like. We are definitely in a correction pattern right now. My intuition and my bet is that we are in the 2nd wave of a much larger cycle. What excites me about that is the 3rd wave tends to be the largest move. That would mean if you want to play a longer term trade like me, you want to buy in anywhere in the $182-$227 range. I would recommend your sweet spot to be above $200, even around $210-220 depending on your tolerance for missing a buy opportunity.
This stock has a lot of love, and psychological supports are a thing. That's why I find it unlikely we'll see this stock below $200 again unfortunately, and if we do then we need to double check our fundamental analysis and if nothing has changed we will go in with both hands.
Now the real exciting part of that trade, should you get in around these levels and lower, is the longer term target is close to $400. Should SPOT continue to diversify their service offering and have that "sticky" product effect where it's just something we all need to have, this isn't farfetched, and is a likely story to happen in the next 1 year.
Meanwhile, for the shorter term trades, volatility in this stock can be good, and therefore if we are in a 2nd wave correction, then this is a great time to both be getting a position, but also trading within the correction to make that position as cheap as possible for your 3rd wave run.
If this does manifest, and one plays it correctly, by the time you reach my longer term target you should be able to sell a portion of your stack and hold a free and sizable position in this household name.
Disclaimer: I am not a professional, nor do I claim to know what I am doing. I chart for my own education and revealing potential trade setups. I am always open to constructive feedback and resources that you can recommend to "up" my game. Thank you!
SPOTIFY - Still King Of Music StreamingMissed out on this one earlier this year as would've loved to have gotten in once it broke that $160 level but had funds tied in other positions. Nonetheless, we're always watching and it looks like we may get another chance at a descent move in $SPOT. Remember, Spotify is like thr Netflix of streaming music. There's plenty of streaming music services but Spotify is still king. $SPOT leads the music streaming industry with over 138 million paying subscribers and 170 million people using its free advertising-supported service feature in over 90 countries. That is a colossal amount of reach. For comparison, Apple Music is estimated to have around 82 million subscribers.
The amount of active listeners dropped over the summer due to Covid19 related factors. Gyms closed, people working from home and didn't listen in their cars, less traffic so less listening time, etc. Musicians have even delayed albums since they can't perform at concerts just yet. Stock has still shot up since March like the rest of tech, and we could be seeing a drop soon if it follows the sector.
TA:
We would love an entry around the $175-$195 region if it gets to there. Looking to see if support would hold around the $225 Fib Retracement line or not. We're also eyeing the 200 day MA in white for possible support as well. Since we love Spotify even as a long term hold, we're not going to try and predict a bottom but looking for support at the levels and dollar cost average our way in.
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
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$SPOT Spotify Possible Weekly Bull Flag$SPOT Spotify Possible Weekly Bull Flag
Long-legged doji reversal candle last week. This week currently green.
Will be monitoring for a weekly close above ~$262 area for confirmation of bull flag breakout.
Medium term target: $340-$360 range possible by late Oct
Note: Not investment advice.
SPOT Descending Wedge BreakoutSpotify is breaking out of a descending wedge today. The stock price is also showing good relative strength on a weak day in the market for most growth names. Low risk setup with a stop at the low ~$246 (3.5%).
