I was tracking a few different trend and wedge possibilities. Today it looks like SPOT broke down below all of them. Not a lot of history below 130, so mostly new territory for resistance. Possibly 120, 113, 103 looking at recent bounces.
This should be 80% accurate if my measurements are right.
My method should be superior. At some point I will start believing we are in a computer simulation and everything is fibonacci.
Measured move target of $174 - $194
Pattern invalid with a break of yellow dotted line
TIPS:
Look for a break in the RSI indicator before entry, indicator should break resistance first before the price exits the pennant (blue)
Daily RSI shows signs of a small pullback. RSI needs to dip below +/- 30 to buy.
Short term price target: $ 120 - or lower.
Long term price target: $ 190
Spotify Technology SA a Luxembourg-based company, which offers digital music-streaming services. The Company enables users to discover new releases, which includes the latest singles and albums; playlists, which includes ready-made playlists put together by music fans and experts, and over millions of songs so that users can play their favorites, discover new tracks and build a personalized collection. Users can either select Spotify Free, which includes only shuffle play or Spotify Premium, which encompasses a range of features, such as shuffle play, advertisement free, unlimited skips, listen offline, play any track and high quality audio. The Company operates through a number of subsidiaries, including Spotify LTD and is present in over 20 countries.
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SPOT
