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Spotlong

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.
NYSE:SPOTLong
by jfsrevg
$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!
NYSE:SPOT
by thetradingcomedy