Jump to content

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


Recommended Posts

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 upside into Minor wave 5, 0.618 5 vs. 1 stands at 500$. It’s also possible we have had wave {iv} instead of 4.
Stocks24.thumb.png.b9ae569bd1e29e477f9eed7a2c21d372.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: Wave {iii}.
DIRECTION: Completion in {iii}.
DETAILS: Looking for wave {iii} to unfold nicely towards the end of MG2 at 330$, with 1.618 {iii} vs. {i} at 337$.
Stocks24(1).thumb.png.85ab1bf19d38c894b1ed058bf51808ff.png
 
Welcome to our latest Elliott Wave analysis for Spotify Technology S.A. (SPOT) as of June 6, 2024. This analysis provides an in-depth look at SPOT's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on SPOT's market behavior.
 
* SPOT Elliott Wave Technical Analysis – Daily Chart*
In our Elliott Wave analysis of Spotify Technology S.A. (SPOT), we observe an impulsive trend characterized by a motive structure. SPOT is currently positioned in Minor wave 5, suggesting an upside movement. The target for 0.618 of wave 5 vs. wave 1 stands at $500. Additionally, there is a possibility that we have seen wave {iv} instead of wave 4, indicating the potential for further upward movement. Traders should monitor for continuation signals to confirm the development of Minor wave 5.
 
* SPOT Elliott Wave Technical Analysis – 4Hr Chart*
On the 4-hour chart, SPOT is following an impulsive trend within a motive structure, specifically in wave {iii}. The current analysis indicates that wave {iii} is unfolding nicely towards the end of MG2 at $330, with the 1.618 projection of wave {iii} vs. wave {i} at $337. Traders should watch for completion patterns in wave {iii} and potential consolidation before wave {iv} begins.
 
Technical Analyst Alessio Barretta
Source : Tradinglounge.com get trial here!
 
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
  • image.png

  • Posts

    • Still the silence is deafening in here. When will this happen?  it have moved most my Trading Capital to another broker who does support Trading veiw Does the deal with Tastytrade have something to do with this lack of progress?  
    • Well to me I feel that the  crypto market values transparency and reliable services. And Bitget has embraced this approach, attracting a large following,gaining up to 1.4million twitter followers,. Recent data shows significant growth in trading volume, solidifying its position in the market.  The exchanges  focus on user protection and satisfaction has fostered a loyal community. As the platform continues to evolve, its value may continue to grow. What are your thoughts on the importance of value in crypto, and what do you see as Bitget's future potential?
    • As more users embrace Dapp, it gets easier to trade crypto, engage in DeFi lending/borrowing and trade NFTs. With the growing need to trade NFT comes the introduction of Love Power Movement, a transparent and accessible marketplace with the best conditions for successful NFT sales. Although the NFT sector has recorded significant growth, it's still impeded by challenges like low protection of artists' and buyers' data, absence of organised policy protecting sellers and buyers amongst others. Love Power aims to tackle those by offering fixed commissions and royalties to creators, ensuring proper profit for sales. LPM token forming a crucial part of the ecosystem has been launched with no presale and VC investment, with intent to direct proceeds from token sales to NFT artists. As $LPM prepares to list on Bitget, the vast community of Love Power Movement would surely be watching keenly.
×
×
  • Create New...
us