SPOT trade ideas
SPOTIFY SHORT?Head And Shoulders Pattern (not confirmed)
At the moment we have the 400 SMA support and right below that the 220.56$ support line (neckline).
As long as we have no closed candle under the neckline we don’t need to worry about lower prices.
If we get a closed candle under the neckline we could have a bullish-to-bearish trend reversal.
SPOT 20% to 60% short after earnings report if not big surprise?DISCLAIMER: I'm not a certified or licensed financial advisor, securities trader, or securities broker; and, this is not intended as financial or securities advice.
DISCLOSURE: I own shares of NYSE:SPOT
Trend behavior looks to me like pricing-in ahead of missing a big surprise from the upcoming earnings call, anticipated on July 28th. Even the 37% surprise in April was met with a $55/share price drop. The lower support for the past few years looks like $133-$100 range, with a recent support range between $230-$215.
SPOT afterhours 26 June 2021 Gap Fill AnalysisAfter 28 April 2021 earnings SPOT gapped down from 292 to 269 and then saw a long downtrend to lows of 220. They did start to pick up and closed at 266 range. Looking for a push past 269 before entering my trade, looking for a possible gap fill play. On the downside, we did see a gap up this week from 255 to 265, so if we do end up reversing and falling under 265, we could be looking for a retracement down to 255 to fill in that gap up before running back up.
I am just watching SPOT right now as we head into Fourth of July weeks and trading volume could be increasing or decreasing as people are starting to go on vacations for the holiday weekend. We will have to wait and see what SPOT does come premarket Monday morning and throughout the week.
$SPOT Bullish reversal. $257.50 takes us to the next leg up.$SPOT Bullish trend reversal. Breaking above the trend lines and approaching and area of contention. Approaching 50 EMA, 200EMA and horizontal resistance Closing above $257.50 gives us room to take our next leg up. Under analysts price targets and ARK recently increased position.
SPOT LONGSPOTIFY (SPOT) is testing a huge resistance level that has touches months back. Has a gap fill potential which is a ways away but not out of reach for a stock like SPOTIFY. QQQs are attempting to break into all time highs and if it breaks out into blue skies SPOT can see huge demand over the next week or so.