SPOTIFY TECHNOLOGY SA (SPOT) Stock Technical Analysis
NYSE:SPOT - New York Stock Exchange, Inc. - LU1778762911 - Common Stock - Currency: USD
Taking everything into account, SPOT scores 8 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
SPOT has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 630.48, a Stop Loss order could be placed below this zone.
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557.87
When analyzing the support we can see 2 important areas.
- A support zone ranging from 606.93 to 630.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @563.50 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SPOT is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SPOT is neutral. |
| ChartMill Relative Strength | 92.65 | POSITIVE | SPOT has a high relative strength, it outperformed 92.65% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of SPOT is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of SPOT is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SPOT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.44 | NEUTRAL | The RSI value for SPOT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests SPOT has a positive trend. |
| Stochastics (14,3) | 50.39 | NEUTRAL | The Stochastics value for SPOT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.21 | MEDIUM VOLATILITY | The ATR as a percentage value for SPOT suggests some volalility. |
| Average Directional Index/ADX (14) | 13.7 | NEGATIVE | The low ADX value for SPOT suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 710.01 | 615.62 | 94.39 (13.29%) | 7.52% |
| An entry @710.01. This is a Buy Stop order right above the 10 day high. | An exit @615.62. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 94.39 points, which is 13.29%. | For a 1.00% total portfolio risk, you can invest 7.52% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
686.74
+19.93 (+2.99%)