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Spotify Inc.(SPOT:NASDAQ) Elliott Wave Technical Analysis 5 July 23


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Spotify Inc., Elliott Wave Technical Analysis
Spotify Inc.,  (SPOT:NASDAQ): Daily Chart, 5 July 23
SPOT Stock Market Analysis: We have been monitoring the up move from the 70$ bottom for a while. It looks like we keep moving higher in what seems to be a wave {v} structure has RSI keeps failing to make higher highs.
SPOT Elliott Wave Count: Wave {v} of 1 or A.
SPOT Technical Indicators: Above all averages.
SPOT Trading Strategy: Looking for a sharp move down into wave {a} to then look for shorts in wave {c}.
TradingLounge Analyst: Alessio Barretta
 
SPOT_7_5.png.c2ec69f996c239e13ff81c430c6a8b91.png
 
 
 
Spotify Inc., SPOT: 4-hour Chart, 5 July 23
Spotify Inc., Elliott Wave Technical Analysis
SPOT Stock Market Analysis: We reached previous resistance on the left where the yellow box is, as well as the 50% retracement of the entire move down from the ATH stands at 165$.
SPOT Elliott Wave count:  Wave {v} of 1 or A.
SPOT Technical Indicators: Above all averages, volume increase during potential wave {v}.
SPOT Trading Strategy: Looking for a shar move down to confirm wave {a} started.
SPOT_4H.png.97a4436a039e4ebdb371445240a6aed0.png
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