Jump to content
How to flag inappropriate content ×

Spotify Technology S.A.(SPOT:NYSE) Elliott Wave Technical Analysis 2 February 23

tradinglounge

By tradinglounge,
in Shares and ETFs

Recommended Posts

tradinglounge Esteemed Contributor

tradinglounge

Posted
Posted

Spotify Technology S.A., Elliott Wave Technical Analysis

Spotify Technology S.A., (SPOT:NYSE): Daily Chart, 2 February 23,

SPOT Stock Market Analysis: Looking for an impulsive move off the lows as we are seeing a steep climb that broke through the 200EMA and the volume based point of control  

SPOT Elliott Wave Count: Wave {iii} of 1.

SPOT Technical Indicators: Above all averages.

SPOT Trading Strategy: Looking for wave {iv} to enter long.  

TradingLounge Analyst: Alessio Barretta

 

SPOT_1H.png.7c5a044fe4403164945538e6fca40332.png

 

 

Spotify Technology S.A., SPOT: 1-hour Chart, 2 February 23,

Spotify Technology S.A., Elliott Wave Technical Analysis

SPOT Stock Market Analysis: We can count five waves off the lows in wave {i} as well as five waves into wave {iii}. We could be near the end of (v), 2.618% {iii} vs. {i} could be the next resistance.  

SPOT Elliott Wave count: Wave (v) of {iii}.

SPOT Technical Indicators: RSI in overbought territory as well as well above the averages.  

SPOT Trading Strategy: Looking for wave {iv} before placing longs.

SPOT_2_2.png.81f071fe2cc1bb7995116af806730404.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Go to topic listing

Markets

Forex

Indices

Shares

Other markets

IG services

Spread betting

CFD trading

Share dealing

Trading platforms

Web platform

Trading apps

Advanced platforms

Compare features

About Us

How we support you

What we do with your money

How does IG make money?

Professional trading

Contact us

Post topic on Community

Browse Help and Support

Education on Academy

Tweet us @IGClientHelp

UK

IG | Sitemap | Terms and agreements | Privacy | How to fund | Cookies | About IG

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

CFD accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd and share dealing and stocks and shares ISA accounts provided by IG Trading and Investments Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957), IG Index Ltd (a company registered in England and Wales under number 01190902) and IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Index Ltd (Register number 114059) and IG Trading and Investments Ltd (Register number 944492) are authorised and regulated by the Financial Conduct Authority.

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

© 2003 - 2020

IG | Terms and agreements (UK) | Privacy (UK) | Cookies | Investors | Careers | Marketing partnership

×
×
  • Create New...
us