SPOTAt one point (see week of October 25), I was considering betting a lot of money that the head & shoulders on this stock was going to fail and break to the upside. Three months later and the pattern is confirming a breakdown below the neckline. You MUST be able to adapt and change your opinion in the markets to succeed. Could get some consolidation in the $180s, but ultimately I think this sees new all time lows this year. H&S target of mid to high 80s.
1SPOT trade ideas
Reversal Play, Double BottomI especially like this chart for next week. It formed a double bottom on the 1hr which is a bullish reversal signal. The 215 support held pretty well which is a good sign.
I expect a push to at least the 226/228 area. Then probably a rejection at that point but that’s long term I am only interested in the reversal opportunity this is presenting.
Invalidated if it falls under 215.
Spotify Analysis 14.01.2022Hello Traders,
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CelertCelert should be a app that should be musics that are 1 ad a hour or 2. It would be really cool for people to use it because it’s not like Spotify or any other app. Celert should also be where like all the new songs come out and all that or if people wanna make a beat out of someone’s song they can.
SPOTWe tried to break above .50 fib numerous times and failed. I expect we come back down the Daily channel to retest $215 and hope to hold it. Otherwise, look for .618 fib level as a support but can bounce between both levels depending on price action. I play both sides but will not play this week's price action on this ticker due to the Daily mother bar. The action can get stuck within that candle and bounce up and down or sideways.
$SPOT - Breakout Trade Thesis$SPOT gives us the opportunity to play a breakout trade at these levels.
Look to go long if we get a breakout over the 238 level. PTs are 245.50 and 256.60. If all goes well we should capture an easy 8% move.
Look to go short if we get a breakout under the 216 level. This entry is less likely but it could lead to us catching a swift trip down to 211.
SPOT Short term triangle BreakoutSPOT Short term triangle Breakout - Looking for a bounce at the demand zone and a breakout of the upper triangle trend line on the daily. Price action is above all rising moving averages and recently broke above the 50 and 200 SMA. Pulling back on low selling volume to the 8 and 21 EMA. Hammer candle stick occuring at demand zone/lower trend line which also happens to be a previous resistance level from a previous pivot high (old resistance).
SPOT - SPOTIFY WEEKLY - DOWN THEN MOON? OR MOVE WITH ER?All,
My two paths I see happening (personally green more likely I think)
Spotify I see as a "wait and see" day by day. ER is 27th and they are almost positive margins. Spotify on flip side has shown to be a flip flop on ER. 2 good / 2 bad etc. Without a doubt $196 if it does go there will be a massive boost and take it out of the pattern almsot gauranteed. I actually hope it dips there because its a very obvious support confluence there that can't be ignored. RSI etc all sort of indicate it isnt done going down, but ER being so close may trade sideways instead and hold these levels.
Either way add alerts in low $200s and watch it via daily next week week and a half.
$SPOT#SPOT
Spotify has been struggle for quite a long time now and many people are pretty bearish on Spotify but when everybody’s bearish what does that mean?
Spotify’s been on a downward spiral since it’s highs back in early February.
When we zoom out and look at the higher timeframe previous resistance is now currently holding as support which could give a good opportunity.
Keep your eyes open around these levels.
MACD sitting below -10
RSI below 50.
Watchlist this.
- Factor Four