SPOTIFY TECHNOLOGY S.A. - Daily - Technical analysis published on 10/13/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 231.33 USD
My targets
254.29 USD (+6.00%)
275.74 USD (+14.94%)
My analysis
The bullish trend is truly tentative and does not seem to be supported in the short term. It is advisable to trade SPOTIFY TECHNOLOGY S.A. with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 231.33 USD. The buyers' bullish objective is set at 254.29 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 275.74 USD. If there is any crossing, the next objective would be the resistance located at 291.64 USD. If there is a bearish break in the support located at 231.33 USD some indecision would arise.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
4.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SPOTIFY TECHNOLOGY S.A. price is 239.90 USD. On the day, this instrument gained +1.96% with the lowest point at 238.11 USD and the highest point at 242.62 USD. The deviation from the price is +0.75% for the low point and -1.12% for the high point.238.11
242.62
239.90
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in Daily of this SPOTIFY TECHNOLOGY S.A. chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. The overall trend remains fragile, as do the slightly bullish signals given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : Daily
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, 13 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 205.08 | 217.11 | 231.33 | 239.90 | 254.29 | 275.74 | 291.64 |
| Change (%) | -14.51% | -9.50% | -3.57% | - | +6.00% | +14.94% | +21.57% |
| Change | -34.82 | -22.79 | -8.57 | - | +14.39 | +35.84 | +51.74 |
| Level | Major | Major | Major | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 228.37 | 229.93 | 232.62 | 234.18 | 236.87 | 238.43 | 241.12 |
| Camarilla | 234.13 | 234.52 | 234.91 | 235.30 | 235.69 | 236.08 | 236.47 |
| Woodie | 228.93 | 230.21 | 233.18 | 234.46 | 237.43 | 238.71 | 241.68 |
| Fibonacci | 229.93 | 231.56 | 232.56 | 234.18 | 235.81 | 236.81 | 238.43 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 201.81 | 210.23 | 221.56 | 229.98 | 241.31 | 249.73 | 261.06 |
| Camarilla | 227.45 | 229.26 | 231.07 | 232.88 | 234.69 | 236.50 | 238.31 |
| Woodie | 203.26 | 210.96 | 223.01 | 230.71 | 242.76 | 250.46 | 262.51 |
| Fibonacci | 210.23 | 217.78 | 222.44 | 229.98 | 237.53 | 242.19 | 249.73 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 162.96 | 190.73 | 208.04 | 235.81 | 253.12 | 280.89 | 298.20 |
| Camarilla | 212.94 | 217.08 | 221.21 | 225.34 | 229.47 | 233.61 | 237.74 |
| Woodie | 157.72 | 188.12 | 202.80 | 233.20 | 247.88 | 278.28 | 292.96 |
| Fibonacci | 190.73 | 207.95 | 218.59 | 235.81 | 253.03 | 263.67 | 280.89 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 56.78 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | 6.16 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 232.62 | |
| Parabolic SAR (0,02-0,02-0,2): | 221.75 | |
| Elder Ray (13): | 7.46 | |
| Super Trend (3,10): | 244.57 | |
| Zig ZAG (10): | 239.55 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 80.15 | |
| TEMA (21): | 232.58 | |
| Williams %R (14): | -12.09 | |
| Chande Momentum Oscillator (20): | 6.85 | |
| Repulse (5,40,3): | 0.5400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 2.65 |
| MA7: | 233.21 | |
| MA20: | 232.66 | |
| MA50: | 229.97 | |
| MA100: | 238.64 | |
| MAexp7: | 233.93 | |
| MAexp20: | 233.09 | |
| MAexp50: | 234.42 | |
| MAexp100: | 240.80 | |
| Price / MA7: | +2.87% | |
| Price / MA20: | +3.11% | |
| Price / MA50: | +4.32% | |
| Price / MA100: | +0.53% | |
| Price / MAexp7: | +2.55% | |
| Price / MAexp20: | +2.92% | |
| Price / MAexp50: | +2.34% | |
| Price / MAexp100: | -0.37% |
Quotes :
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15 min delayed data
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NYSE Stocks
This member declared not having a position on this financial instrument or a related financial instrument.
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