In this analysis, I'll be taking a purely technical approach in analyzing Spotify (SPOT), using Elliott wave counts.
Analysis
- We can see that overall, the stock is in a clear uptrend
- It has completed wave 2 on the primary degree, and continues to rally through impulse waves
- It formed an Elliott triple combo wave (WXYXZ) for the second primary wave, consolidating within a mild megaphone pattern
- While it seems like the momentum has topped out for now, as we wait for the fourth wave on the minuette degree, we could expect a bounce near the ichimoku cloud support
- We could anticipate the last impulse wave on the minuette degree ending near the 1.618 fibonacci retracement resistance, near $376
- This would also mark the completion of the first impulse wave on the intermediate degree
For educational content regarding Elliott Impulse Wave counts, check out my previous post below:
If you like this analysis, please make sure to like the post, and follow for more quality content!
I would also appreciate it if you could leave a comment below with some original insight :)
Analysis
- We can see that overall, the stock is in a clear uptrend
- It has completed wave 2 on the primary degree, and continues to rally through impulse waves
- It formed an Elliott triple combo wave (WXYXZ) for the second primary wave, consolidating within a mild megaphone pattern
- While it seems like the momentum has topped out for now, as we wait for the fourth wave on the minuette degree, we could expect a bounce near the ichimoku cloud support
- We could anticipate the last impulse wave on the minuette degree ending near the 1.618 fibonacci retracement resistance, near $376
- This would also mark the completion of the first impulse wave on the intermediate degree
For educational content regarding Elliott Impulse Wave counts, check out my previous post below:
If you like this analysis, please make sure to like the post, and follow for more quality content!
I would also appreciate it if you could leave a comment below with some original insight :)
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.