1SPOT trade ideas
Spotify Long Bids - Bids on fibs and S/R FlipWe can see an explosive breakout from the $200 price point, I'm thinking SPOT cools down in the short term and falls right into my bids on these fib levels.
$SPOT - SPOTIFY TECHNOLOGY 2HR - Finished a wave 4 and broke above the downtrend line on another leg up into W5 TZ.
- Nice move up hitting the 1.75% extension at the 1.272% and pausing.
- Having an inside day today, potentially get a flag to move higher into the 1.618 to 2.272% area for end of Wave 3.
- However Wave 3 like to terminate at 1.75%. But only price action will tell us.
Bullish flag: Example with SpotifyOne of the most commong chart patterns is the flag and it can be a bullish or a bearish depending on the direction it is formed. Usually they are trend - confirming patterns and are occuring after a strong impulse of buying or selling activity, some brief consolidation, and then the price continues in the same direction as the first impulse. The target of the pattern is the "handle" of the flag, meassured from the moment of breach. Sometimes the buying can continue agressively and the price may reach higher than the initial target zone. Traders though interpret differently the target level in regards to the meassurement of the handle. The stop loss is usually placed below the configuration itself, not the handle. That of course can be adjussted by everyone's personal view and risk management. The decision to enter may vary. The first entry can be aggressive with a sell or buy limit near the pattern. Order can be executed after the breach and on the next open, or you can wait out for a correction back to the figure. We say that the flag is complete and confirmed when the initial target level is reached.
In the example we see current development of a bullish flag in Spotify. The breach here was minimal and not that convicning, but the next open was strong and with a gap. Yesterday's close is a classic correction of the initial impulse of 40% to 50% of the candle.
$SPOT Long into 400Holding prior resistance today at the close, inside day, should give us an idea tomorrow on whether the breakout was real. NYSE:SPOT
Spotify Fib Price TargetUsing the Fib Retracement tool here is my swing trade price target for Spotify. It has broken out of a parallel channel strongly. Trail up your stop losses on this one using a lower time frame such as the 30 minute or 1 hour.
Spotify Fib Price TargetUsing the Fib Retracement tool, as learned from the Fibonacci Queen on Youtube, here is my swing trade price target for Spotify.
SPOT - EW analysis - up trend SPOT - It is in strong up trend with ABC zigzag move initially (or it may be huge impulse up). It is in 5th wave of intermediate cycle and expected to make new high. Buy the small pull back with stop level below 306.75 for target above 350.
Give thumbs up if you really like the trade idea.
Update on Spotify: bullish flag triggered Buyers were able to pinch trough the flag's resistance level and thus trigger the formation.
Two scenarios in this case may follow:
1. Price tests again the figure and continues it's way up;
2. Price aggressively starts to rise and complete the flag fast with big volumes;
Spotify: Time to Buy: USA Happy New Year
By Sun Storm Investment Research
A Profit & Solutions Strategy
Disclaimer: I am not a financial advisor, so please do your own research before trading anything
SPOT can still benefit from the ANTISOCIAL society of COVIDSpotify is still bullish and one it breaks out of the current consolidation it could push further up so it was worth keeping an eye on, with a new and more infectious variant of COVID we see many large economies becoming even more ANTI SOCIAL and this should benefit antisocial players in the world of equities.
HAVE IT ON YOUR PORTFOLIOPossible move: 70 %+
Reward/Risk:8 (R/R>3 is Ideal)
Time frame: 52 wks
This is just my technical view, not a fundamental comment..!
I can make you confused by a crowded messy chart, but I would rather simple effective presentations..!
SPOT falling wedge breakoutI am looking for a strong break and run again from SPOT potentially to ATH. As long as we do not break down out of the falling wedge, which will double as our stop, we can have our first target set at 322.26 followed by 333.30. The spreads are wide on this so be cautious. After 333.30, if we break that point we can see 342.5 followed by the ATH. This stock is not option very liquid with those options, so once again, be careful!
Long Spotify (Spot). Stop loss on a close around 314 or lowerSpotify has shown weakness this week. However, it is offering a great risk reward entry here around 316. Target top of channel
SPOT Elliot wave counting - trade with your own risk - ver 2SPOT seems is developing wave 3rd. The target for 3rd wave = wave 1 length * 1.618
