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Spotify Inc., Elliott Wave Technical Analysis

Spotify Inc.,  (Nasdaq: SPOT): Daily Chart, 5 July 2023

SPOT Stock Market Analysis: We have been monitoring the up move from the 70$ bottom for a while. It looks like we keep moving higher in what seems to be a wave {v} structure has RSI keeps failing to make higher highs.

SPOT Elliott Wave Count: Wave {v} of 1 or A.

SPOT Technical Indicators: Above all averages.

SPOT Trading Strategy: Looking for a sharp move down into wave {a} to then look for shorts in wave {c}.

Analyst: Alessio Barretta

Spotify Inc., SPOT: 4-hour Chart, 5 July 2023.

Spotify Inc., Elliott Wave Technical Analysis
SPOT Stock Market Analysis: We reached previous resistance on the left where the yellow box is, as well as the 50% retracement of the entire move down from the ATH stands at 165$.

SPOT Elliott Wave count:  Wave {v} of 1 or A.

SPOT Technical Indicators: Above all averages, volume increase during potential wave {v}.

SPOT Trading Strategy: Looking for a sharp move down to confirm wave {a} started.

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