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Spotify Inc.(SPOT:NYSE) Elliott Wave Technical Analysis 10 August 23


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Spotify Inc., Elliott Wave Technical Analysis
Spotify Inc., (SPOT:NYSE): Daily Chart, 10 August 23
SPOT Stock Market Analysis: We’ve seen a large advanced to the upside into what seems to be either a wave. 1 or A. At this point we can look for a pullback into 2 or B.  
SPOT Elliott Wave Count: Wave {c} of 2.  
SPOT Technical Indicators: 200EMA as support.s
SPOT Trading Strategy: Looking for longs once we have a clear picture on the type of correction of potential wave 2 or B.
TradingLounge Analyst: Alessio Barretta
Source : Tradinglounge.com get trial here!
SPOT_8_10.png.80da3ea1278a8c7cee232bd08b26172f.png
 
 

 
Spotify Inc., SPOT: 4-hour Chart, 10 August 23
Spotify Inc., Elliott Wave Technical Analysis
SPOT Stock Market Analysis: We could either be in wave (c) of {a} or else in wve {c} of 2 as labelled. I would not be surprised to find a double correction lower. The area of support on the left is around the area of wave {iv}.
SPOT Elliott Wave count:  Wave {c} of 2.  
SPOT Technical Indicators: Below all averages.
SPOT Trading Strategy: Looking for longs once we have a clear picture on the type of correction of potential wave 2 or B.
SPOT_4H.png.36d8032006318157877463d7bc01eb70.png
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    • Hi, That's great, thank you very much. Very helpful! Many thanks.
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