Trend Tracker for (SPOT)

October 30, 2024, 10:04 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SPOT

• Buy SPOT near 382.08 target 409.84 stop loss @ 380.98 Details

The technical summary data tells us to buy SPOT near 382.08 with an upside target of 409.84. This data also tells us to set a stop loss @ 380.98 to protect against excessive loss in case the stock begins to move against the trade. 382.08 is the first level of support below 392.04 , and by rule, any test of support is a buy signal. In this case, support 382.08 is being tested, a buy signal would exist.

• Short SPOT slightly under 409.84, target 382.08, stop loss @ 411.02 Details

The technical summary data is suggesting a short of SPOT as it gets near 409.84 with a downside target of 382.08. We should have a stop loss in place at 411.02though. 409.84 is the first level of resistance above 392.04, and by rule, any test of resistance is a short signal. In this case, if resistance 409.84 is being tested, a short signal would exist.

Swing Trading Plans for SPOT

• Buy SPOT slightly over 393.72, target 409.84, Stop Loss @ 392.58 Details

If 393.72 begins to break higher, the technical summary data tells us to buy SPOT just slightly over 393.72, with an upside target of 409.84. The data also tells us to set a stop loss @ 392.58 in case the stock turns against the trade. 393.72 is the first level of resistance above 392.04, and by rule, any break above resistance is a buy signal. In this case, 393.72, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SPOT slightly near 393.72, target 383.97, Stop Loss @ 394.86. Details

The technical summary data is suggesting a short of SPOT if it tests 393.72 with a downside target of 383.97. We should have a stop loss in place at 394.86 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 393.72, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SPOT

• Buy SPOT slightly over 393.02, target 393.72, Stop Loss @ 392.1 Details

If 393.02 begins to break higher, the technical summary data tells us to buy SPOT just slightly over 393.02, with an upside target of 393.72. The data also tells us to set a stop loss @ 392.1 in case the stock turns against the trade. 393.02 is the first level of resistance above 392.04, and by rule, any break above resistance is a buy signal. In this case, 393.02, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SPOT slightly near 393.02, target 384.93, Stop Loss @ 393.94. Details

The technical summary data is suggesting a short of SPOT if it tests 393.02 with a downside target of 384.93. We should have a stop loss in place at 393.94 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 393.02, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Spotify Technology S.a. (SPOT) available here: SPOT.

SPOT Ratings for October 30:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Strong
P1	0	0	356.7
P2	384.93	383.97	382.08
P3	393.02	393.72	409.84

AI Generated Signals for SPOT

Real Time Updates for Repeat Institutional Readers:

• Factset: Request User/Pass
• Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.

Instructions:

• Click the Get Real Time Updates button below.

• In the login prompt, select forgot username

• Type the email you use for Factset

• Use the user/pass you receive to login

• You will have 24/7 access to real time updates.

From then on you can just click to get the real time update whenever you want.

GET REAL TIME UPDATES

Market Crash Leading Indicator

Our Market Crash Leading Indicator isEvitar Corte.

• Evitar Corte warned of market crash risk four times since 2000.

• It identified the Internet Debacle before it happened.

• It identified the Credit Crisis before it happened.

• It identified the Corona Crash too.

• See what Evitar Corte is Saying Now.

Get Notified When our Ratings Change:Take a Trial

The data for Spotify Technology S.a. (NASDAQ: SPOT) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for SPOT change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if SPOT is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for SPOT too.  All of these are offered below the Summary Table.