Jump to content
The Twitter Feeds are now back on the Platform ×

Spotify Inc.(SPOT:NASDAQ) Elliott Wave Technical Analysis 6 March 23


Recommended Posts

Spotify Inc., Elliott Wave Technical Analysis

Spotify Inc., (SPOT:NASDAQ): Daily Chart, 6 March 23,

SPOT Stock Market Analysis: It looks like we bottomed in wave (a) after a top in wave {iii} being 1.618 {iii} vs. {i}. Looking for another leg down into wave (c) before considering longs.  

SPOT Elliott Wave Count: Wave (a) of {iv}.

SPOT Technical Indicators: 20EMA as support.  

SPOT Trading Strategy: Looking for one leg lower in wave (c) before considering longs.  

TradingLounge Analyst: Alessio Barretta

 

SPOT_3_6.png.7c775ac5197d670522402b7fc41cd3eb.png

 

Spotify Inc., SPOT: 4-hour Chart, 6 March 23,

Spotify Inc., Elliott Wave Technical Analysis

SPOT Stock Market Analysis: It was a sharp move down into wave (a) which is very common for wave As. We didn’t even reach the 0.236 retracement of wave {iii} which is why I favor further downside before upside resumption.  

SPOT Elliott Wave count: Wave (a) of {iv}.

SPOT Technical Indicators: In between averages

SPOT Trading Strategy: Looking for further downside in wave (c).

SPOT_4H.png.3dda50dea5f03e48f4a494a71e137efb.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
  • General Statistics

    • Total Topics
      21,691
    • Total Posts
      92,049
    • Total Members
      41,973
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    petroshillaey
    Joined 31/03/23 11:43
  • Posts

    • #USDCAD: Time For PullbackUSDCAD reached a key level.Testing that, the price broke and closed above the resistance line of a falling wedge pattern.I expect a pullback now.Goals: 1.355 / 1.3577  
    • Charting the Markets: 31 March The FTSE 100, DAX 40 and Nasdaq 100 surge higher on a positive outlook as EUR/USD, GBP/USD pause their ascents while USD/JPY continues to rise as the greenback appreciates. WTI remains capped by resistance, gold forms a technical triangle as Robusta coffee trades near six-month highs.   Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 31 March 2023                 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • Content streaming business Netflix has announced that it will restructure its film unit to make fewer movies each year. Part of the process will also see it centralise decision-making.  Jeremy Naylor | Analyst, London | Publication date: Friday 31 March 2023  It will combine units that produce small and midsize pictures, a change the company says will result in a handful of layoffs. Netflix is slightly higher all-sessions on the IG platform on this Friday morning, holding on to recent gains that we've seen for the stock. It's restructuring its film group to make fewer movies each year and try to centralise its decision making. Now this is a cost cutting exercise, so it's no real surprise that we've seen the markets wanting to hold on to the gains that we've seen at Netflix. Bloomberg is reporting that Netflix will combine its units that produce small and mid-size pictures, a change it says will result in some layoffs. Share price chart Let's take a look at the share price chart and I think you can see that the recent gains we've had way down here, the lows that we saw back on the 13th of March at $285. We're currently trading at 33975. As I said, just opened all-sessions on the IG platform with a small rise on the day. Lisa Nishimura, who led Netflix into stand up comedy and original documentaries, will depart after more than 15 years at the company. And Ian Bricke, a vice president of the film group, is also leaving after more than a decade. Bricke helped make the Kissing Booth, the movie franchises that Netflix has produced. So you can see at the moment we're up by a margin of almost half of 1%. But I think the bottom line is, it's holding onto the gains. This is essentially a cost-cutting exercise and a reduction of risk. But what it means for the long-term remains to be seen. It's all about Netflix and the competitors and the competitors are now getting into sports which Netflix doesn't yet do.
×
×
  • Create New...