By
Peter Mathers
of
Trading Lounge
Thursday, March 16, 2023 7:43 AM EST
Spotify Inc., Elliott Wave Technical Analysis
Pixabay
Spotify Inc., (SPOT): Daily Chart, Thursday, March 16.
SPOT Stock Market Analysis: Moving as expected, looking for further upside into wave {v}. We could be due another leg lower into wave (c) to then resume higher.
SPOT Elliott Wave Count: Wave (b) of {iv}.
SPOT Technical Indicators: Above all averages.
SPOT Trading Strategy: Waiting for a potential leg lower to then look for longs.
TradingLounge Analyst: Alessio Barretta
Spotify Inc., SPOT: 4-hour Chart, Thursday, March 16.
Spotify Inc., Elliott Wave Technical Analysis
SPOT Stock Market Analysis: Here an alternate to the other bullish count. A potential triangle in wave {iv} to immediately resume higher.
SPOT Elliott Wave count: Wave (e) of {iv}.
SPOT Technical Indicators: 20EMA as support.
SPOT Trading Strategy: Looking for a bottom in place, ready for upside.
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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 ...
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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 trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
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