So yesterday at the market open, my limit buy order on $SPOT (long) triggered on the breakout, buy price at $184.34. RSI in bullish zone & shows higher lows on the bigger price dips. Open target, exit when trend is broken. Stop for now at $178.22.
Price left a huge HAGOPIAN to the downside and stopped spot on at the U-MLH.
As the earnings approach, I don't want to trade this vehicle, but wait what happens after.
P!
Good time to short Spotify again...shows a nice Harmonic BAT. PIN bar formed 171.85, price failing..mostly it will open bearish. Short in the next red candle. Max it it go up to fib 1.618.
Target price all to 160 levels.
Spotify... the newest streaming music service to hit the NYSE via a nontraditional IPO
I have no fundamental analysis on this besides that they have a student subscription program that will 'hook' the next generation and a partnership with Hulu to incentivize membership gains.
Looks like we have made a clean break of a wedge here; can we test the 1.618...
BUY BUY BUY --> next target 165 then sell 80% wait for correction 155--> buy all in wait til 300--> sell, enjoy life with spotify songs
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Not a fan of stocks, but love watching IPO's:
NYSE:SPOT just released this week; here's my take on the chart after it's first week of trading...
Price action has now put our first bottom in place, where I'd expect 134 to be the HARD floor price before any further declines.
However, the range (green shaded zone) from the past 2 days, 'IMO', is the catalyst...
Not of a big fan of their methodology for going IPO. It just seems like they're trying to sell their shares at almost $30 billion in market cap... This is almost as big as $SNAP during IPO. Financials don't look impressive either. I'll be considering a starter position with some put options and will add either on the earnings gap up or down.
