SPOT trade ideas
Spotify | Sell Or Buy | What to do guide & Targets | 4H |SPOT has reached oversold conditions at 76.65 RSI on new highs.
It has massive gains in the last two days of 21%. I will call for a correction.
If you bearish the follow Targets are 38.2% correction at $217.48. (5.57%)
Second Target $210.09 with 50% retracement with or (-9.48%) correction
Last Target $202.12 with a 61.8% retracement and (-12.48%) Correction
IF you are bull and want to keep riding or looking forward to getting in
The next target is $280 with a retracement forward of 261.8%
Trade safe and do you own DD.
Spotify Technology $SPOT "Breakout"$SPOT broke $198.99 out last week with huge volume. It may do some pull backs test before it goes up
12 months Consensus Price Target: $171.50
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Please don't trade according to the ideas, rely on your own knowledge.
Spotify Technical AnalysisLong Term - go long, but wait the end of the price retracement - always invest in the trend direction - if it is possible.
Short term, go short as per below suggestions:
Retracement Price Stage:
Using Fibonacci Speed Fan.
Target Price 1 - 220 USD
Target Price 2 - 205 USD
Fundamental News:
Spotify Technology SA (NYSE: SPOT) gained this week after The Wall Street Journal reported the company has signed an exclusive deal with Kim Kardashian West for a new podcast focused on criminal justice.
Robinhood traders will be tasting reality of a bubbleAfter two gaps as a result of the partnership with Kim Kardashian, this equity looks to be in bubble territory.
Stoch shows overbought.
Possible rush of Robinhood investors hearing their favorite app mentioned.
Could it continue to go up?
Yes. More influeners joining can bring it up higher.
But there are more reasons on the technical end for it to go down.
SPOT - IMPULSE ON MOONSpotify has made a NUMBER of deals lately, honestly I couldn't really get a wave-count till now. SPY is on it's last legs finishing it's primary impulse wave arounf $250 per share, time-line may be sooner rather then predicted as this thing is going parabolic.
Price target: $250 Range
Local Support: $222.83
Will update with corrective predictions when we get there, see you fellers on the moon.
Spotify Technology multiyear breakout Stock closed at a All Time High and continues to move higher after-hours.
This is a breakout from a 2 year range and has strong fundamentals and technical s
to drive it much higher.
$225 is the first major Fibonacci target to consider.
RSI has room to run, as has the MACD which is reversing bullishly.
💿 Anybody Use CDs Anymore? (SPOT)🤔 Very critical crossroads of two major support levels for streaming platform Spotify.
Key focus is the red circle, 177.94. If broke I'd look to short as that would break horizontal and upward channel support. Could lead to a drop towards 156.
I would watch this on a 3 hour timeframe to see if it wants to curl or break based on the Crossover strategy and the ema dots indicator. Pat attention to the candle, engulfing vs doji will show you what to play.
If curls and Crossover take place we look to move towards the top of the channel towards first level of 195.47. We test that for a breakout to go to new highs.
Best of luck to you! 🎲🎲
🥇MLT | MAJOR LEAGUE TRADER
Spotify Enters Post-Rogan EraSpotify'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 podcasting. Go long.