Jump to content

Spotify Inc.(SPOT:NASDAQ) Elliott Wave Technical Analysis 7 June 23


Recommended Posts

Spotify Inc., Elliott Wave Technical Analysis
Spotify Inc., (SPOT:NASDAQ): Daily Chart, 7 June 23,
SPOT Stock Market Analysis: We have witness an outstanding up move in Spotify as we rallied over 100% from the bottom at around 70$. It looks like we are looking for a potential top soon as we seem to be having different reasons to believe so.  
SPOT Elliott Wave Count: Wave (v) of {v}.
SPOT Technical Indicators: Above all averages.
SPOT Trading Strategy: Looking for a down move to begin the correction soon.  
TradingLounge Analyst: Alessio Barretta
 
SPOT_6_7.png.b4eb7634d786fc46000ff1147a29298c.png

 
Spotify Inc., SPOT: 4-hour Chart, 7 June 23
Spotify Inc., Elliott Wave Technical Analysis
SPOT Stock Market Analysis: As you can see we are looking at a potential ending diagonal in wave {v} as we encounter resistance which is visible on the daily chart and I highlighted the area in yellow. We have RSI bearish divergence suggesting we could be due a pullback.  
SPOT Elliott Wave count:  Wave (v) of {v}.
SPOT Technical Indicators: Above all averages.
SPOT Trading Strategy: Looking for a sudden drop to confirm the end of the uptrend. 
SPOT_4H.png.111b7f5eaf35cabd790582b12de832a1.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
×
×
  • Create New...
us