TradingView
ryand423
Nov 18, 2021 12:49 PM

SPOT Short term triangle Breakout Long

Spotify Technology S.A.NYSE

Description

SPOT 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).
More