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SPOTIFY TECHNOLOGY SASPOTIFY TECHNOLOGY SASPOTIFY TECHNOLOGY SA

SPOTIFY TECHNOLOGY SA

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Expecting a +30% Move on Spotify in the Short TermGood morning traders! Today we want to analyze Spotify, since in recent days much has been said about this stock and its movement in recent weeks has been remarkable. 🔸What we can observe is that from March to July of this year the price generated an astonishing rise of approximately 170%. 🔸Of course, after a strong move, a consolidation or correction of a similar magnitude is expected. 🔸So it was, the correction lasted approximately four months, and we can draw a flag pattern of this process. 🔸This week there was a clear and indisputable breakout to the upside, with a large bullish candle closing above all-time highs. So, how do we project the target of the movement in this case that the price is at historical highs? 🔸The tool we use is the fibonacci extensions based on the previous momentum. This projection gives us that the first target of the movement is approximately $351 and the second target $417, which would be, from the current level, a rise of 30%.
NYSE:SPOTLong
by ThinkingAntsOk
7
Spotify - Daily ChartTechnical analysis of Spotify on daily chart. All explanations are done on the chart. --- Disclaimer: All content provided here is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of my technical analysis and any information here. Legal Disclosure: I’m not a financial advisor. The information contained here is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock analysis provided here should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!
NYSE:SPOTLong
by AktieAI
Spotify Ascending Wedge- 22% Long positionOn the 2hr chart there is an ascending wedge where spotify is clearly trading in between. If all goes well, it should bounce off the bottom white line of the wedge, if not it should bounce off around the yellow support line (in theory). If it bounces from the white support line we can expect a 22% gain in a long term position. My idea of a swing trade would be: 1. Would buy before the white support line and sell at the top. 2. Stop- loss just beneath the yellow support line What do you think?
NYSE:SPOT
by Pinooj
2