SPOT Technical Analysis - SPOTIFY TECHNOLOGY SA

Technical Rating and Analysis

Overall SPOT gets a technical rating of 5 out of 10. In the last year, SPOT was one of the better performers, although we are getting mixed signals now in both the short and medium term time frames.

In the last month SPOT has a been trading in the 661.00 - 740.20 range, which is quite wide. It is currently trading near the lows of this range.

When comparing the yearly performance of all stocks, we notice that SPOT is one of the better performing stocks in the market, outperforming 88% of all 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 79 other stocks in this industry. SPOT outperforms 87% of them.

SPOT is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so SPOT is lagging the market slightly.

SPOT has an average volume of 1441460 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

SPOTIFY TECHNOLOGY SA / SPOT Weekly stock chart

SPOTIFY TECHNOLOGY SA / SPOT Daily stock chart

Setup Rating and Analysis

SPOT has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

613.80

745.93

2 important support areas can be observed.

Support @658.91 from a trend line in the daily time frame.
A support zone ranging from 620.00 to 636.67. This zone is formed by a combination of multiple trend lines in multiple time frames.

2 important resistance areas can be observed.

A resistance zone ranging from 678.62 to 700.18. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 720.91 to 738.54. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

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	DOWN	NEGATIVE	The short term trend for SPOT is down.
ChartMill Relative Strength	88.81	POSITIVE	SPOT has a high relative strength, it outperformed 88.81% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of SPOT is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of SPOT is below a declining 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)	37.74	NEUTRAL	The RSI value for SPOT is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-3.3	NEGATIVE	The MACD value suggests SPOT has a negative trend.
Stochastics (14,3)	11.73	OVERSOLD	The low Stochastics value suggests SPOT may be oversold.
Average True Range in percent/ATR (20)	3.14	MEDIUM VOLATILITY	The ATR as a percentage value for SPOT suggests some volalility.
Average Directional Index/ADX (14)	9.32	NEGATIVE	The low ADX value for SPOT suggests a weak or negative trend.