SPOTIFY TECHNOLOGY SA (SPOT) Stock Technical Analysis
NYSE:SPOT - LU1778762911 - Common Stock
681.88 USD
-5.92 (-0.86%)
681.88 USD
0 (0%)
We assign a technical rating of 7 out of 10 to SPOT. In the last year, SPOT was one of the better performers, but we do observe some doubts in the very recent evolution.
Looking at the yearly performance, SPOT did better than 92% of all other stocks. On top of that, SPOT also shows a nice and consistent pattern of rising prices.
SPOT is one of the better performing stocks in the Entertainment industry, it outperforms 84% of 79 stocks in the same industry.
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 2090890 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.
In the last month SPOT has a been trading in the 637.43 - 748.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
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 a support zone below the current price at 656.29, a Stop Loss order could be placed below this zone.
More info and screens
594.86
728.12
3 important support areas can be observed.
- A support zone ranging from 654.42 to 656.29. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 620.00 to 629.67. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @600.87 from a trend line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 687.04 to 701.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 720.50 to 720.91. This zone is formed by a combination of multiple trend lines in the daily 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 | DOWN | NEGATIVE | The short term trend for SPOT is down. |
| ChartMill Relative Strength | 92.23 | POSITIVE | SPOT has a high relative strength, it outperformed 92.23% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of SPOT is below the rising 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) | 46.29 | NEUTRAL | The RSI value for SPOT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.37 | NEGATIVE | The MACD value suggests SPOT has a negative trend. |
| Stochastics (14,3) | 18.61 | OVERSOLD | The low Stochastics value suggests SPOT may be oversold. |
| Average True Range in percent/ATR (20) | 3.38 | MEDIUM VOLATILITY | The ATR as a percentage value for SPOT suggests some volalility. |
| Average Directional Index/ADX (14) | 9.98 | 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)
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 |
|---|---|---|---|
| 701.22 | 673.49 | 27.73 (3.95%) | 25.00% |
| An entry @701.22. This is a Buy Stop order right above the resistance zone. | An exit @673.49. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 27.73 points, which is 3.95%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.99%. |
- The distance between exit and entry is rather small compared to the average daily movement of SPOT. Please evaluate whether better entry and exit points can be found.
- 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.
681.88
-5.92 (-0.86%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryEntertainment
Performance
% Chg-0.86%
1 Week-1.6%
2 Weeks-6.95%
1 Month8.73%
3 Month2.52%
6 Month12.15%
12 Month98.87%
2 Year342.87%
3 Year530.5%
5 Year141.66%
10 YearN/A
15 YearN/A
Volatility
ATR(14)21.21
ATR(20)%3.38%
ATR Inc-31.08%
Range Today17.39
ADR(20)19.98
ADR(20)%2.93%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS92.23
Mansfield1.26
10 Day High743.77
10 Day Low673.5
20 Day High748.3
20 Day Low637.43
52 Week High785
52 Week Low319.07
CS1 End656.29
CR1 Start687.04
Volume & EV
DER(3)0.09%
DER(5)0.76%
Volume1.00M
Volume Incr-56.03%
Vol(5)1.19M
Vol(50)2.09M