Music streaming is on the rise. Stock idea 31/01/2024
Investment experts at UBS have upgraded their rating on Spotify Technology S.A. shares to "Buy". Analysts believe that efficiency initiatives will yield positive results. They are confident of sustained margin expansion and more robust earnings trends for the company in the coming years. The issuer's business is transnational and geographically diversified. Thus, Spotify's revenue may also grow.
So, today, we will examine the Spotify Technology S.A. (NYSE: SPOT) stock chart.
On the D1 timeframe, support has formed at 202.30, with resistance at 219.20. There is a probability of a corrective decline in quotes to the 209.95 level.
On the H1 timeframe, a rebound from the 209.95 level could set a short-term target for a price increase at 239.19, while in the medium term, it could hover around 252.51.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
So, today, we will examine the Spotify Technology S.A. (NYSE: SPOT) stock chart.
On the D1 timeframe, support has formed at 202.30, with resistance at 219.20. There is a probability of a corrective decline in quotes to the 209.95 level.
On the H1 timeframe, a rebound from the 209.95 level could set a short-term target for a price increase at 239.19, while in the medium term, it could hover around 252.51.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.