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Spotify Technology S.A., (SPOT) Stocks Elliott Wave Technical Analysis


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SPOT Elliott Wave Analysis Trading Lounge Daily Chart,
Spotify Technology S.A., (SPOT) Daily Chart
SPOT Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Minor 5.
DIRECTION: Upside in Minor 5  
DETAILS: Looking for start moving higher after trading around TL3 at 300$. Looking for further upside towards at least the end of MG2 at 330$.
Stocks24(1).thumb.png.147fd092b9d1c15a9307399f7e2bc25e.png
 
SPOT Elliott Wave Analysis Trading Lounge 4Hr Chart,
Spotify Technology S.A., (SPOT) 4Hr Chart
SPOT Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Minor 5.
DIRECTION: Upside in Minor 5  
DETAILS: Looking for a triangle in 4 to be completed. There is a possibility we just completed wave {iv} and not 4, as equality of  Minor 3 vs. 1 stands at 340$.  
Stocks24.thumb.png.00c2908d830f48678c8a942c3530c309.png
 

Welcome to our latest Elliott Wave analysis for Spotify Technology S.A. (SPOT). In this report, we provide a detailed examination of SPOT's price movements and future projections using the Elliott Wave Theory. This analysis will cover both the daily and 4-hour charts, offering insights into the current trends and potential trading opportunities. Whether you are a seasoned trader or a market enthusiast, this analysis aims to enhance your understanding of SPOT's market behavior.
 
* SPOT Elliott Wave Technical Analysis – Daily Chart*
In our latest Elliott Wave analysis of Spotify Technology S.A. (SPOT), we observe a bullish trend with an impulsive structure. Currently positioned at Minor wave 5, SPOT is gearing up for an upside move in Minor 5. After trading around Trading Level 3 (TL3) at $300, we anticipate further upside towards at least the end of Major Group 2 (MG2) at $330. Traders should be prepared for a potential continuation of the upward trend as the market gains momentum.
 
* SPOT Elliott Wave Technical Analysis – 4Hr Chart*
On the 4-hour chart, SPOT is also exhibiting an impulsive mode within a motive structure, specifically positioned in Minor wave 5. We are looking for the completion of a triangle in wave 4. However, there is a possibility that we have just completed wave {iv} instead of 4, with the equality of Minor wave 3 vs. 1 standing at $340. This scenario suggests further upside potential as SPOT continues to move higher in wave 5.
 
Technical Analyst : Alessio Barretta
Source : Tradinglounge.com get trial here!
 
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