SPOT: Symmetrical Triangle Breakout + Bullish Confirmations

Jul 30

SPOT is shaping up to be one of the more interesting charts on my watchlist for a swing trade.

On Tuesday, SPOT broke above a five-month symmetrical triangle. That's a great start, what really gets my attention is the confluence: price, volume, RSI, and the 200-day moving average are all lining up at the same time. Those are the kinds of setups I like to watch.

The breakout came with a nice pickup in volume over the last two sessions, exactly what you want to see when price is trying to break out from a long consolidation.

I also like what the RSI is doing. It formed a triangle of its own and is now close to a breakout, giving this setup another bullish signal.

One level still stands in the way: the 200-day moving average (blue line).

SPOT hasn't traded above its 200-day moving average since November 2025. Reclaiming it would be an important shift in the long-term trend and a strong confirmation that buyers are back in control.

The whole setup actually reminds me a lot of the EXPE trade idea I shared a few days ago, which has already started breaking out. Both charts have a very similar structure, and even the RSI patterns look almost identical.

EXPE chart:



Trade idea-

I'm not looking to jump in just because the triangle broke. I'd rather see the stock reclaim the 200-day moving average first

Entry: $534, a break above the second swing high of the triangle.

Stop-loss: $515. If price breaks above $534 and then falls back to $515, it would put the stock back below the 200-day MA and invalidate the setup for me.

Target 1: $616 (+15.4%) | R/R: 3.1

Target 2: $705 (+32.0%) | R/R: 6.46

Keep in mind, this is a swing trade setup, not a short-term trade. If the breakout plays out, it could take several weeks or even a few months for price to reach the targets.

Aug 23

Trade active

It took longer than I expected, about three weeks of consolidation in a smaller triangle (yellow trendline) but the price eventually broke above the 200-day MA, which was key resistance level I highlighted in the initial idea. Once it broke above the MA, I took a partial position around $517.

The breakout confirmation level for the entire structure remains $534, and the price has been consolidating around this level since Wednesday. The overall market conditions have been pretty rough this week, but the fact that the stock is holding around the breakout area instead of falling apart like many others is a great sign.

Now I’m looking for the next trading week to bring better market conditions. If the broader market gets some momentum, I think this one could really fly.