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 10 out of 10 in our technical rating. Both in the recent history as in the last year, SPOT has proven to be a steady performer, scoring decent points in every aspect analyzed.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, SPOT did better than 96% of all other stocks. We also observe that the gains produced by SPOT over the past year are nicely spread over this period.
SPOT is part of the Entertainment industry. There are 72 other stocks in this industry. SPOT outperforms 95% of them.
SPOT is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so SPOT is leading the market.
SPOT is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
SPOT has an average volume of 2399100 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, SPOT also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
531.37
719.96
We found 5 important support areas.
- A support zone ranging from 675.84 to 676.32. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @653.27 from a trend line in the daily time frame.
- A support zone ranging from 636.66 to 637.51. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @563.48 from a trend line in the weekly time frame.
- Support @536.74 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 712.27 to 712.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The short term trend for SPOT is up. |
| ChartMill Relative Strength | 96.67 | POSITIVE | SPOT has a high relative strength, it outperformed 96.67% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SPOT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SPOT is above 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) | 63.56 | NEUTRAL | The RSI value for SPOT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.26 | POSITIVE | The MACD value suggests SPOT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 88.29 | OVERBOUGHT | The high Stochastics value suggests SPOT may be overbought. |
| Average True Range in percent/ATR (20) | 3.01 | MEDIUM VOLATILITY | The ATR as a percentage value for SPOT suggests some volalility. |
| Average Directional Index/ADX (14) | 15.73 | NEGATIVE | The low ADX value for SPOT suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
710.85
+8.03 (+1.14%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryEntertainment
Performance
% Chg1.14%
1 Week-0.2%
2 Weeks6.87%
1 Month11.04%
3 Month23.67%
6 Month47.08%
12 Month127.09%
2 Year342.76%
3 Year657.59%
5 Year175.32%
10 YearN/A
15 YearN/A
Volatility
ATR(14)21.58
ATR(20)%3.01%
ATR Inc-24.86%
Range Today19.68
ADR(20)20.71
ADR(20)%2.91%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS96.67
Mansfield4.4
10 Day High717.87
10 Day Low656.84
20 Day High717.87
20 Day Low628.9
52 Week High717.87
52 Week Low288.07
CS1 End676.32
CR1 Start712.27
Volume & EV
DER(3)1.84%
DER(5)0.74%
Volume1.13M
Volume Incr-38.05%
Vol(5)1.25M
Vol(50)2.40M