Spotify's has returned to the initial jump price after Joe Rogan's 5/19 exclusive deal announcement. This price of around $178 correlates to both to the significant volume traded on that day and to the 38% Fibonacci entrancement zone. Moving forward, this will be a significant new support level as investors contend to Spotify becoming a dominant player in...
First off, please don't take anything I say seriously or as financial advice. As always, this is on opinion based basis. That being said, I wanted to do a long six month to 1 year stock pick strategy just out of boredom. Now, if I am right about this post some of you might get really excited. My picks include: Spotify: Expect it to grow due to the Joe Rogan deal...
First off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. That being said, here are a few insights. Since Spotify was already mostly on a bullish run, and the market had a chance to retrace from most of the noise, I am using a $160 to $180 price as a metric not $190. If you look at 20/160 you get...
As a technology company Spotify is making Bulls and taking profit of the COVID-19 situation. There's a strong market for how higher prices as we look at volume compared to price.
Will there be a recovery the next coming months, will Spotify keep up with this bull? Let's see how this turns out.
Another 4 tickers for your watch list.
I am surprised to see how many short trades are showing up on a day to day basis. Very few Long setups. *******Eyes open for Sector Rotation******* If the market breaks out.... I
RSI over 70 and rolling over. SMI just flipped. Joe Roagn deal is huge and this ran hard on news. Looking for pullback at least down to 186 -187 range.
Purchases 2 May 29 P 192.5 @ 4.80 a contract
Potentially entering Phase D of a Wyckoff Accumulation Structure. Starting to see decreased supply on earnings reactions. Supply here needs to be absorbed, if that happens I predict higher prices.
SPOT is currently way overbought and last time it reaches this level it dropped $20 so it could possibly drop that or more. If your looking to buy SPOT wait for the pullback to happen then scoop it up at prime price. PLEASE COMMENT WHAT YOU THINK!
SPOT is oversold on it's hourly and daily chart on the stochastics as well as its bollingerbands. Its exceeded the high bollinger band on daily. The daily chart has shown declining volume on the run up. It has also run up into its all time high which will have excess supply on top of being overbought. I expect this to be a quick 1-2 day swing back down to the...
Strong growth during COVID outbreak.
We are basically looking at a NTFLX in the audio segment, but with a way stronger monopoly.
While NFLX has taken off during COVID, SPOT has moved relatively little.
On the technical side, strong upward trend, about to retest previous resistance level of around 160$, already tested 3 times in the last 1y.
looking for close above 159.00 to confirm bullish sentiment, invalidated if it falls below all time trend line. great company model and viable product in the foreseeable future. Solid subscriber growth from earnings may be the catalyst to have this stock retest highs.
*not investment advice & trade at own risk!
NYSE:SPOT has been trading in this range since December 2018.
Yesterday we saw a gap up on a volume spike at the top of the range.
Typically that would be a very bullish signal if it closed outside of the range with a solid candle but as you can see on the chart, it closed in weakness at the bottom of the range.
Let's take a look at the fibs action :
High of...
