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Spotify Inc., Elliott Wave Technical Analysis

Spotify Inc., (NYSE: SPOT): Daily Chart, 10 August 2023

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 of the type of correction of potential wave 2 or B.

Analyst: Alessio Barretta

Spotify Inc., SPOT: 4-hour Chart, 10 August 2023

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 of the type of correction of potential wave 2 or B.

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