Learn How to Use Charts to Evaluate Spotify Technology Sa ($SPOT)
Jun 7, 2023, 00:15 AMET, By Thomas Y. – Contributor | Editor: Thomas H. Key Jr. (Follow us on LinkedIn)
SPOT’s long-term trading plan
- Buy SPOT just above the target value of 153.01. No stop loss @ 152.57. detail
The technical summary data tells us to buy SPOT around 153.01, but there is no current upside target from the summary table. In this case, you have to wait until the summary table is updated (usually at the beginning of the trading day) or until the position is closed. According to the data, the stop loss should be set at 152.57 to prevent excessive losses if the stock price starts to move against the trade. 153.01 is the first support level below 153.03 and by rule testing support is a buy signal. In this case, a buy signal exists if the support 153.01 is being tested.
- none . detail
none .
There is no current resistance level in the summary table. Therefore, there is no short resistor scheme that tells you to short with a test of resistance. Resistance levels have breached even higher and short positions look risky unless the stock price reverses and falls below the support level again.
SPOT’s swing trade plan
- Buy spot just above 155.18, no target, stop loss @ 154.73 detail
If we start to break out of 155.18, technical summary data suggests we should buy SPOT just above 155.18 with no top target. The data also tells us to set a stop loss at 154.73 in case the stock reverses trades. 155.18 is the first resistance level above 153.03 and, in principle, a buy signal once the resistance is crossed. In this case, there is a buy signal as the initial resistance of 155.18 has broken out. This plan is called the long-term resistance plan because it is based on the interruption of resistance.
- Short SPOT is slightly closer to 155.18, target is 153.01 and stop loss is 155.63. detail
The technical summary data suggests a short SPOT if it tests 155.18 with 153.01 as the downside target. However, we should set a stop loss at 155.63 in case the stock starts to move against the trade. As a rule, all resistance tests are short signals. In this case, a short signal is present when resistor 155.18 is being tested. This plan is called a short-term resistance plan because it is a short-term plan based on a test of resistance.
SPOT day trading plan
- Buy spot just above 153.64, target 155.18, stop loss @ 153.28 detail
If we start to break out of 153.64, the technical summary data would suggest buying SPOT just above 153.64 with an upside target of 155.18. The data also tell us to set a stop loss at 153.28 in case the stock reverses trades. 153.64 is the first resistance level above 153.03 and as a general rule, a buy signal is given when the resistance is crossed. In this case, there is a buy signal as the initial resistance of 153.64 has broken out. This plan is called the long-term resistance plan because it is based on the interruption of resistance.
- Short SPOT slightly closer to 153.64, target 153.01, stop loss @154. detail
The technical summary data suggests a short SPOT if it tests 153.64 with a target downside of 153.01. However, we should set a stop loss at 154 in case the stock starts to move against the trade. As a rule, all resistance tests are short signals. In this case, a short signal is present when resistor 153.64 is being tested. This plan is called a short-term resistance plan because it is a short-term plan based on a test of resistance.
SPOT Ratings for June 7th:
period → |
shortly |
mid |
length |
evaluation |
strong |
strong |
strong |
P1 |
0 |
0 |
107.32 |
P2 |
153.64 |
150.31 |
129.93 |
P3 |
157.19 |
155.18 |
153.01 |
⚠the trigger may have already come
SPOT chart with long-term pivot
blue = current price
red = resistance
Green = Support
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Our Market Crash Leading Indicators are: avoid cuts.
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Evital Corte has warned of the risk of a market crash four times since 2000.
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when #Institutional investor Making decisions to buy or sell #stocks that you would normally keep quiet about. But if you pay close attention, you can understand what’s going on and make the right decisions. Introducing Spotify Technology The (NASDAQ: SPOT) report below will help you understand how to do this. This report is static while SPOT’s trading plans are updated in real-time for subscribers. If you need the latest information, or another report on another stock, get unlimited real-time reports here.