Learn to Evaluate (SPOT) using the Charts
September 17, 2024, 05:18 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SPOT
- Buy SPOT slightly over 331.15 target 356.53 stop loss @ 330.19 Details
The technical summary data tells us to buy SPOT near 331.15 with an upside target of 356.53. This data also tells us to set a stop loss @ 330.19 to protect against excessive loss in case the stock begins to move against the trade. 331.15 is the first level of support below 338.83 , and by rule, any test of support is a buy signal. In this case, support 331.15 would be being tested, so a buy signal would exist.
- Short SPOT slightly under 356.53, target 331.15, stop loss @ 357.56 Details
The technical summary data is suggesting a short of SPOT as it gets near 356.53 with a downside target of 331.15. We should have a stop loss in place at 357.56though. 356.53 is the first level of resistance above 338.83, and by rule, any test of resistance is a short signal. In this case, if resistance 356.53 is being tested, so a short signal would exist.
Swing Trading Plans for SPOT
- Buy SPOT slightly over 342.01, target 356.53, Stop Loss @ 341.02 Details
If 342.01 begins to break higher, the technical summary data tells us to buy SPOT just slightly over 342.01, with an upside target of 356.53. The data also tells us to set a stop loss @ 341.02 in case the stock turns against the trade. 342.01 is the first level of resistance above 338.83, and by rule, any break above resistance is a buy signal. In this case, 342.01, 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 342.01, target 331.15, Stop Loss @ 343. Details
The technical summary data is suggesting a short of SPOT if it tests 342.01 with a downside target of 331.15. We should have a stop loss in place at 343 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, 342.01, 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 340.4, target 342.01, Stop Loss @ 339.61 Details
If 340.4 begins to break higher, the technical summary data tells us to buy SPOT just slightly over 340.4, with an upside target of 342.01. The data also tells us to set a stop loss @ 339.61 in case the stock turns against the trade. 340.4 is the first level of resistance above 338.83, and by rule, any break above resistance is a buy signal. In this case, 340.4, 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 340.4, target 331.15, Stop Loss @ 341.19. Details
The technical summary data is suggesting a short of SPOT if it tests 340.4 with a downside target of 331.15. We should have a stop loss in place at 341.19 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, 340.4, 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 September 17:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
331.15 |
| P2 |
340.4 |
326.24 |
356.53 |
| P3 |
347.77 |
342.01 |
384.66 |
AI Generated Signals for SPOT
Blue = Current Price
Red= Resistance
Green = Support
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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Spotify Technology S.a. (NASDAQ: SPOT) report below can help you understand how to do this. The trading plans for SPOT, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SPOT:
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