SPOTIFY TECHNOLOGY SA (SPOT) Stock Technical Analysis
USA - NYSE:SPOT - LU1778762911 - Common Stock
Taking everything into account, SPOT scores 1 out of 10 in our technical rating. SPOT has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
Although the technical rating is bad, SPOT does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 646.94. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 620.07, a Stop Loss order could be placed below this zone.
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610.73
When analyzing the support we notice one important area.
- A support zone ranging from 616.90 to 620.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 646.94 to 648.46. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 709.80 to 720.91. 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 | NEUTRAL | NEUTRAL | The long term trend for SPOT is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for SPOT is down. |
| ChartMill Relative Strength | 76.37 | POSITIVE | SPOT has a high relative strength, it outperformed 76.37% 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 | MIXED | The current price of SPOT is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 41.93 | NEUTRAL | The RSI value for SPOT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.54 | POSITIVE | The MACD value suggests SPOT has a positive trend. |
| Stochastics (14,3) | 55.88 | NEUTRAL | The Stochastics value for SPOT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.56 | MEDIUM VOLATILITY | The ATR as a percentage value for SPOT suggests some volalility. |
| Average Directional Index/ADX (14) | 20.87 | NEUTRAL | The ADX value for SPOT suggests a possible start of a new trend. |
635.75
-9.58 (-1.48%)
SPOTIFY TECHNOLOGY SA / SPOT FAQ
What is the technical rating for SPOT stock?
ChartMill assigns a technical rating of 1 / 10 to SPOT.
What is the current trend direction of SPOTIFY TECHNOLOGY SA (SPOT) stock?
The current trend direction for SPOTIFY TECHNOLOGY SA (SPOT) is Bearish.
Can you provide the RSI signal for SPOTIFY TECHNOLOGY SA?
SPOTIFY TECHNOLOGY SA (SPOT) has an RSI value of 41.9313. This indicates that the stock is currently neutral.
Can you provide the MACD signal for SPOTIFY TECHNOLOGY SA?
The MACD indicator for SPOTIFY TECHNOLOGY SA (SPOT) has a value of 1.54179, indicating a bullish trend.