06Mar
Spotify Inc., Elliott Wave Technical Analysis 06 March 2023
Spotify Inc., Elliott Wave Technical Analysis 06 March 2023
4Hour
Spotify Inc., SPOT: 4-hour Chart, March 6 2023,
Spotify Inc., Elliott Wave Technical Analysis
SPOT Stock Market Analysis: It was a sharp move down into wave (a) which is very common for wave As. We didn’t even reach the 0.236 retracement of wave {iii} which is why I favor further downside before upside resumption.
SPOT Elliott Wave count: Wave (a) of {iv}.
SPOT Technical Indicators: In between averages
SPOT Trading Strategy: Looking for further downside in wave (c).
Daily
Spotify Inc., Elliott Wave Technical Analysis
Spotify Inc., (SPOT:NASDAQ): Daily Chart, March 6 2023,
SPOT Stock Market Analysis: It looks like we bottomed in wave (a) after a top in wave {iii} being 1.618 {iii} vs. {i}. Looking for another leg down into wave (c) before considering longs.
SPOT Elliott Wave Count: Wave (a) of {iv}.
SPOT Technical Indicators: 20EMA as support.
SPOT Trading Strategy: Looking for one leg lower in wave (c) before considering longs.
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