We, therefore, hold a negative evaluation of this stock. Spotify Technology SA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. (5.20%), our systems don't find the trading risk/reward intra-dayĪttractive and any bets should be held until the stock is closer to the support level. Since the stock is closer to the resistance from accumulated volume at $89.00 If Spotify Technology SA takes out the full calculated possible swing range there will be an estimated 9.95% move between the lowest and the highest trading price during the day. Which gives a possible trading interval of +/-$4.37 (+/-4.98%) up or down from last closing price. Trading Expectations For The Upcoming Trading Day Of Friday 21stįor the upcoming trading day on Friday, 21st we expect Spotify Technology SA to open at $88.26, and during the day (based on 14 day Average True Range), We hold a negative evaluation for this stock. For the last week, the stock has had daily average volatility of 4.21%. During the last day, the stock moved $3.81 between high and low, or 4.40%. This stock has average movements during the day and with good trading volume, the risk is considered to be medium. If this is broken, then the next support from accumulated volume will be at $82.65 and $82.13. In this case, Spotify Technology SA finds support just below today's level at $83.18. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. On the downside, the stock finds support just below today's level from accumulated volume at $83.18 and $82.65. This may be an early warning and the stock should be followed more closely. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. On a fall, the stock will find some support from the short-term average at $85.55. On further gains, the stock will meet resistance from the long-term moving average at $94.17. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. The Spotify Technology SA stock holds a buy signal from the short-term moving average at the same time, however, the long-term average holds a general sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development.
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Further rise is indicated until a new top pivot has been found. A buy signal was issued from a pivot bottom point on Friday, October 14, 2022, and so far it has risen 7.27%.
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