4SPOT trade ideas
SPOT on supportPerfect support for mid-term long position. Entry point @ $220-225, TP $250-300-340, SL $210.
Long SpotifySpotify is rebounding from a strong support. I like this set up on a strong chart like the weekly one.
$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.
Spotify $SPOT | Bullish Inverse Head and Shoulders$SPOT formed a bull flag below the inverse head and shoulders neckline.
Watch for continuation to the upside.
Targets: $250, $260, $270
SPOT LONGSPOTIFY (SPOT) is testing a huge resistance level that has touches months back. Has a gap fill potential which is a ways away but not out of reach for a stock like SPOTIFY. QQQs are attempting to break into all time highs and if it breaks out into blue skies SPOT can see huge demand over the next week or so.
SPOT setting up for breakout over 232Daily and Hourly candles tightening up.
Once breakout is confirmed should see higher if market cooperates.
SPOT potential reversalSPOT - Friday was the first green inside day in a while. Hopefully Monday will tell us if it's an inside day to reverse up or down. The June 280 calls are actually not bad for a potential lotto. I might look at those if we reverse here.
SPOT| Potential Inverse Head & Shoulders for an Earnings popHey all,
In purely technical terms, Spotify is preparing for an inverse H&S breakout back to ATHs.
Earnings tomorrow morning could be the catalyst for this breakout.
Fundamentally however, I'm slightly torn on the prospects of a beat and raise, as I doubt the fact that they will have kept up revenue growth to levels that will justify current Market Cap.
Interestingly the 295$ 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*)
Spotify (SPOT) Nice Entry PointSpotify, D1: Support level + Bollinger bands + Hammer + Divergence + Nice sell off
$SPOT Butterfly @srp192 Correct on the butterfly, bars are a little too big for my liking going into it, it can work, needs to bounce tomorrow
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SPOTIFY LONGSPOTIFY is recovering a bullish trend. Around 270 is the mark of the .618 fib retracement.
Just my opinion.
This is not financial advice.
SPOTLong swing idea
Rejection of support with a strong candle, might see a move back to the upside
Also had some good news yesterday
SPOT getting ready for weekly level breakoutSPOT touched 292 levels twice. That is also its current EMA 20 weekly.
A breakout from here will be powerful and ATH is probably next. On watch.
Inverse Head and Shoulders RectangleI saw the Inverse H&S pattern, then looked back and saw the older rectangle pattern that SPOT is now back inside of. It made finding the neckline a bit easier.
SPOT broke free from the old rectangle pattern before latest fall to earth in a single thrusting green candle.
From looking at volume, it looks like smart money has invested in this at lower levels, and I am sure they invested in it a long time ago at really low levels as well (o: When I see a huge volume bar like the one that short SPOT out of the rectangle, makes me wonder if anyone other than smart money could have acheived that much volume on a security at this price? Sure I see the general trading public acheive this day trading penny stocks etc. I am just not sure we could have done that volume bar by ourselves? What do you think?
No recommendation.
Rectangles can be hard to bust out of but SPOT has done it before.
Rectangles are horizontal consolidation zones and this is a wide one. The bottom is support and the top represents resistance. Spot has passed Mid Rectangle (MR) which is 271.35. Some use this as a stop whichever way the rectangle breaks.
SPOT got past the bottom of the big green candle today, but closed right at the bottom of it. If I could go back in time, I would have used that candle as support, or a stop vs mid rectangle if I were using a trailing stop. It looks like it may be causing a little bit of resistance right now. I am thinking SPOT will eventually get past it. Lots depends on market conditions and things we have no control over.
