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
639 trade ideas
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
SPOT Elliot wave counting - trade with your own riskThe 4th wave already happened, the price target for 5th wave = 1.618 from original point to wave 3 or wave 5th = wave 1 height.
US Stock In Play: $SPOT (Spotify Technology S.A)The successful breakout of $SPOT that was previously highlighted (a five months consolidated range pattern), have seen Spotify rallied to an all time high establishment at $346.44 on 11th December 2020. This breakout is also accompanied with its ATR (14D) peaking at $15 per day average volatility, signifying substantial attention of $SPOT from the Wall Streets at the moment.
This week, $SPOT have not been able to capitalize on the broad market rally, with an accumulated correction of -5% from its peak. The current immediate support to watch is at $312 this week.
Spotify - Possible To $400 ?i thought spotify could be best stock to invest in 2021.
etoro : faizfakhirin
SPOT Short OpportunityHello traders !
As you can see,price is in a long-term upward move. Now we have some sellers in action which has formed a rising wedge pattern. If my prediction is correct,then we could see also a double top formed on H1 timeframe. I expect price to fall to its nearest support level,which is also in a combination with 0.50 fibonacci level. Also RSI shows some divergences on the lower timeframes
Retracement to 310-300, then new upswingSpotify ran +42% since last reversal. It's currently overbought on RSI, and the current price is too far away from EMA20.
I see a -13-15% retracement, then a new upswing. Be patient.
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 :)
$SPOT looking to breakout againIt has had a huge move post breaking the $293 resistance area. Now after consolidating for 2 days, it looks set to break out above $342 area to target $360 - $365 in coming days.
Why multi-month patterns are more successful (SPOT)It is easy to get caught up in the idea of getting a bunch of small winners is the best way to grow an account. This is because of the rush you get when a win occurs. The more often it happens the better you feel. In reality, this works against the trader's odds because you have to win more often and have to be more accurate. What I want to focus on are the long term patterns. over the course of several months. These trades tend to net more profit and cause less stress for the investor because they take less maintenance and effort to trade. The win ratio can be smaller on these trades because the profit is larger.
This chart of Spotify (SPOT) is a perfect example of a macro (long-term) multi-month chart patterns that paid out huge profits. This ticker has had a history of macro breakouts most recently a few days ago. The price really follows the moving averages well and consolidated under a clear price of 292. There are a few things you want to look for when trading macro patterns.
1. clear support and resistance lines. in this case, 292 is resistance, and 245 is support. These levels are easily marked and tracked. One could even buy at support for these trades and sell closer to resistance.
2. Volume is king. A low volume name is never going to leave its range. SPOT has tons of volume being a tech name that has huge popularity. I usually look for names that have one million in shares volume per day.
3. For a breakout to be confirmed it needs to attempt the resistance price AT LEAST 3 times. The third time is important because it's a psychological tipping point for most traders and algos.
I like to refer to these as layers of probability. The more you have the more likely a trade is to work in your favor.
Broke Up from RectangleRectangles are like S triangles and are often a continuation pattern..
This one broke upside, sometimes they can be drawn back in to the rectangle though..this one looks to have momnetum on it's side..
The top trendline of the rectangle which was R now becomes support..
MR- Mid Rectangle..
Not a recommendation
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%.
US Stock In Play: $SPOT (Spotify Technology S.A)$SPOT have broken out of a five month ascending triangle (consolidated) pattern, rallying to an all time high untracked prize zone. This breakout is accompanied with substantial volume exceeding 300% of its 50 days average.
At the current closing price of $320.89, $SPOT is slated to sustain this rally towards $380 (Fibonacci Projection), a modest +18% away from today.
SPOT Potential Short PlayNYSE:SPOT
Wait for confirmation 12/3 or 12/4 for a bearish or bullish behavior before making a decision.
Anticipating a slight price rejection at an all-time high of $330
BREAKOUT CUP WITH HANDLE AND HIGH VOLUM BUY SPOT ABOUT 327$Spotify launches '2020 Wrapped' with new features including quizzes, badges and, yes, stories
1% CAPITAL
SPOT sporting a nice lookSPOT looks poised to breakout soon. This will be the 4th time testing 300. A break above could lead to a nice upside move.
SPOT is about to run. PT 380The bull flag on the daily and weekly indicates a bit of consolidation. The break is on the way. For my Target of 380, I used the length of the pole. This should be a 1 month out swing. Let's see how it goes!
