Spotify 20-29 Mar 24 TA/TC3/19/24
Price: 252.76
Analysis:
Trend Analysis:
Declining momentum, expecting bulls to fight to (+0.4%) - (+0.6%), expecting incline to continue to +2.3% thereafter, may see stagflation after... expecting total deviation of 3.1% TP @262.65 followed by +0.8% inclined TP @262.65 before significant decline.
Structure:
Market Stagnated bears look to be in favor for decline continuation for now release suggest @least +2.3% inclined followed by +0.8% inclined TP @262.65 market structure may allow bulls to steal for the projected incline.
Support & Resistance Levels:
Highs 254.79, 260.59, 262.64, 262.84
Lows = 250.68, 244.95, 240.74
Crossovers & Moving Averages:
Risk Management:
0.5% & 0.2%
News & Events:
Scenario Analysis:
Market incline +2.3%, then decline (-2.3%) create double top then shoot inclined expect +4.00% tp to be cut short @ (0.6%) - (0.8%), turned bearish to drop (-4.6%)
Market incline +0.6%, turned bearish drop (-0.6%) - (-0.8%) tp @round 252.2, then turn bullish incline (+1.7 - (+2.2%) tp@ +2.3% (260.59) or 260.1. then market drop (-4.00% = 250.68) or @250.17
Objective & Targets
wait for confirmation to push incline Target = 0.8% - 2.3%
Continue pushing decline (-0.6%) - (-0.8%), expect bullish push after by at least 1.3% inclined tp@ +2.3% (260.59)
YOLO:
Entry Point: 253.75 / 251.75
