Spotify Inc., Elliott Wave Technical Analysis

Spotify Inc., (NYSE: SPOT): Daily Chart, 14 September 2023

SPOT Stock Market Analysis: After an over 100% move to the upside, we have seen a sharp correction which was identified as either a wave 2 or B. At this point, as we begin to resume higher, breaking the previous wave {b}, there is a possibility for at least five more waves to the upside.  

SPOT Elliott Wave Count: Wave 3 of (A).

SPOT Technical Indicators: Below all averages.  

SPOT Trading Strategy: Looking for longs into wave 3.

Analyst: Alessio Barretta

United Parcel Service Inc., SPOT: 1-hour Chart, 14 September 2023

United Parcel Service Inc., Elliott Wave Technical Analysis
SPOT Stock Market Analysis: Here’s a closer look at the advanced we’ve seen into potential wave {i}, as there seems to be a case for five waves to the upside, making the up move impulsive.  

SPOT Elliott Wave count:  Wave {ii} of C.

SPOT Technical Indicators: In between averages.  

SPOT Trading Strategy: Looking for longs on the way up into wave {c}.

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