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Spotify (SPOT): A Technical Approach Using Elliott WavesIn this analysis, I'll be taking a purely technical approach in analyzing Spotify (SPOT), using Elliott wave counts. Analysis - We can see that overall, the stock is in a clear uptrend - It has completed wave 2 on the primary degree, and continues to rally through impulse waves - It formed an Elliott triple combo wave (WXYXZ) for the second primary wave, consolidating within a mild megaphone pattern - While it seems like the momentum has topped out for now, as we wait for the fourth wave on the minuette degree, we could expect a bounce near the ichimoku cloud support - We could anticipate the last impulse wave on the minuette degree ending near the 1.618 fibonacci retracement resistance, near $376 - This would also mark the completion of the first impulse wave on the intermediate degree For educational content regarding Elliott Impulse Wave counts, check out my previous post below: If you like this analysis, please make sure to like the post, and follow for more quality content! I would also appreciate it if you could leave a comment below with some original insight :)
NYSE:SPOTLong
by Michael_Wang_Official
2
UPDATE: S&P500 5-3-5 ZIGZAG CORRECTION (4H)Just an update to my post from Sept 30th. Based on the movements since then, and the fact that we have reached the previous high of about $3430, I no longer believe we are in a 3-3-5 Flat type correction. Instead, based on my updated count, I believe we are in a 5-3-5 Zigzag correction. So, I am still expecting downside on the larger time frame as I still believe we are on the final leg (Wave 5) of an Expanding Triangle which may terminate just above $2000. For the short term, I believe this upside move (Wave A) will terminate around $3475 and head down towards $3450 (Wave B). We should see another move upwards again terminating above or at $3475 to complete Wave C. At this point, I would start bulking up on short sells to ride the longer term downside move. If at anytime we breach the ATH, I will have to reassess.
OANDA:SPX500USDShort
by PHICAPITALINVESTMENTS
1
S&P500 3-3-5 RUNNING FLAT CORRECTION (4H)I believe we are at the tail end of a 3-3-5 Running Flat correction in the S&P500 on the 4hr time frame. We have already reached the upper maximum on the Schiff scale at a price of $3385, so the downside can come at any time now. If the price tags or breaches the last local high of $3430, I will have to reassess on what kind of correction we are really in. On the larger time frame, I believe we started the 5th wave (downside) of an Expanding Triangle which started exactly 2 years ago. I believe it's possible we may reach the previous low of $2160 and may bottom out around $2100-$2000 before we continue the Grand time frame trend for upside.
OANDA:SPX500USDShort
by PHICAPITALINVESTMENTS
1
This is how the week should play out.My initial projection from last weekend had Minor Wave B ending by the lunch hour on September 17. With more data, my projection has moved to the right a bit. It looks like the Fed press conference ending Minute wave A and we are in the early stages of Minute wave B. Fortunately it should be short lived. I project this to end with a bottom around 3360 with about 3 hours left to trade on September 17. Based on hitting that specific mark, I am projecting Minute wave C and ultimately Minor wave B to end around 3470 about one day later. I am still projecting the next down swing to begin before the week ends. Another looser projection is the end of Minor wave B based solely on Minor wave A's movement. This has Minor wave B ending near the close of trade on September 17. I no longer assess this spot to be the end. I will write again this weekend, but I am still bearish for the next two weeks before we are ready to test the ATH in mid to late October. Follow and stay tuned for more!
SP:SPXLong
by StockSignaler
7