The signals are have aligned to suggest a bottom. Looks like a buy to me. Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
We see Spotify for the 4 the time in the last year touched the trend line and bounced back. In the last two days it made higher high + higher low pater which is in favor of finished correction! Wait for close daily candle closure above 345 for safer entry point.
Is this a good time to join Spotify bulls? Let’s see how the situation looks like from an Elliott Wave perspective. The daily chart above puts Spotify advance from its December 2018 low in Elliott Wave context. The chart reveals that the uptrend from the 2018 low at $103.66 is shaped as a complete five-wave impulse. The pattern is labeled 1-2-3-4-5, where the...
Spotify - breakout - short-term possible route
easy fractal to trade time frames are very different obviously but that's the whole point here. wish me luck
Hi Traders! The chart above shows that the advance in Spotify from its September 2020 low has been taking the shape of the Elliot Wave five-wave impulse sequence, labeled (i)-(ii)-(iii)-(iv)-(v). The sub-waves of wave (iii) is also visible. The price action follows the guideline of alternation quite well, wave (ii) is a sharp and deep correction and wave (iv)...
- Finished a wave 4 and broke above the downtrend line on another leg up into W5 TZ. - Nice move up hitting the 1.75% extension at the 1.272% and pausing. - Having an inside day today, potentially get a flag to move higher into the 1.618 to 2.272% area for end of Wave 3. - However Wave 3 like to terminate at 1.75%. But only price action will tell us.
One of the most commong chart patterns is the flag and it can be a bullish or a bearish depending on the direction it is formed. Usually they are trend - confirming patterns and are occuring after a strong impulse of buying or selling activity, some brief consolidation, and then the price continues in the same direction as the first impulse. The target of the...
Using the Fib Retracement tool here is my swing trade price target for Spotify. It has broken out of a parallel channel strongly. Trail up your stop losses on this one using a lower time frame such as the 30 minute or 1 hour.
Buyers were able to pinch trough the flag's resistance level and thus trigger the formation. Two scenarios in this case may follow: 1. Price tests again the figure and continues it's way up; 2. Price aggressively starts to rise and complete the flag fast with big volumes;
ROKU has moved unexpectedly and currently it's at price of the next 5 year business PE booking. So so overvalued. My first target is 300 With SL of 378
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...
In 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,...
Good 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...
$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.
the sun will shine and we will try again, am i right?