Hi Traders!
The chart above shows that the advance in Spotify from its September 2020 low has been taking the shape of the Elliot Wave five-wave impulse sequence, labeled (i)-(ii)-(iii)-(iv)-(v). The sub-waves of wave (iii) is also visible.
The price action follows the guideline of alternation quite well, wave (ii) is a sharp and deep correction and wave (iv) unfolded as a shallow and sideway corrective pattern.
If this count is correct, impulsive price action above $350.33 will signal wave (iv) is complete and
SPOT is heading higher in wave (v) to complete the impulse sequence. Targets above wave (iii) high and $400/share is plausible in the weeks ahead.
What's your view onSPOT? Let me know in the comment.
Thanks for reading!
Veejahbee.
The chart above shows that the advance in Spotify from its September 2020 low has been taking the shape of the Elliot Wave five-wave impulse sequence, labeled (i)-(ii)-(iii)-(iv)-(v). The sub-waves of wave (iii) is also visible.
The price action follows the guideline of alternation quite well, wave (ii) is a sharp and deep correction and wave (iv) unfolded as a shallow and sideway corrective pattern.
If this count is correct, impulsive price action above $350.33 will signal wave (iv) is complete and
SPOT is heading higher in wave (v) to complete the impulse sequence. Targets above wave (iii) high and $400/share is plausible in the weeks ahead.What's your view on
SPOT? Let me know in the comment.Thanks for reading!
Veejahbee.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.