Elliott Wave Technical Analysis: Spotify Technology S.A.

black android smartphone turned on screen

Image Source: Unsplash

Spotify Technology S.A., Elliott Wave Technical Analysis

Spotify Technology S.A., (NYSE: SPOT): Daily Chart, 2 February 2023.

SPOT Stock Market Analysis: Looking for an impulsive move off the lows as we are seeing a steep climb that broke through the 200EMA and the volume-based point of control  

SPOT Elliott Wave Count: Wave {iii} of 1.

SPOT Technical Indicators: Above all averages.

SPOT Trading Strategy: Looking for wave {iv} to enter long.  

Analyst: Alessio Barretta

Spotify Technology S.A., SPOT: 1-hour Chart, 2 February 2023.

Spotify Technology S.A., Elliott Wave Technical Analysis

SPOT Stock Market Analysis: We can count five waves off the lows in wave {i} as well as five waves into wave {iii}. We could be near the end of (v), 2.618% {iii} vs. {i} could be the next resistance.  

SPOT Elliott Wave count: Wave (v) of {iii}.

SPOT Technical Indicators: RSI is in overbought territory as well above the averages.  

SPOT Trading Strategy: Looking for wave {iv} before placing longs.

More By This Author:

The Stock Market Continues To Move Higher As Expected
Elliott Wave Technical Analysis: CSX Corp. - Wednesday, Fed. 1
Elliott Wave Technical Analysis: Ethereum / U.S. Dollar

Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

How did you like this article? Let us know so we can better customize your reading experience.