Objective long/short (SPOT) Report

November 10, 2024, 05:56 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SPOT

• Buy SPOT near 385.88 target 413.75 stop loss @ 384.77 Details

The technical summary data tells us to buy SPOT near 385.88 with an upside target of 413.75. This data also tells us to set a stop loss @ 384.77 to protect against excessive loss in case the stock begins to move against the trade. 385.88 is the first level of support below 400.68 , and by rule, any test of support is a buy signal. In this case, support 385.88 is being tested, a buy signal would exist.

• Short SPOT slightly under 413.75, target 385.88, stop loss @ 414.94 Details

The technical summary data is suggesting a short of SPOT as it gets near 413.75 with a downside target of 385.88. We should have a stop loss in place at 414.94though. 413.75 is the first level of resistance above 400.68, and by rule, any test of resistance is a short signal. In this case, if resistance 413.75 is being tested, a short signal would exist.

Swing Trading Plans for SPOT

• Buy SPOT slightly over 413.75, target n/a, Stop Loss @ 412.56 Details

If 413.75 begins to break higher, the technical summary data tells us to buy SPOT just slightly over 413.75, with an upside target of n/a. The data also tells us to set a stop loss @ 412.56 in case the stock turns against the trade. 413.75 is the first level of resistance above 400.68, and by rule, any break above resistance is a buy signal. In this case, 413.75, 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 413.75, target 397.15, Stop Loss @ 414.94. Details

The technical summary data is suggesting a short of SPOT if it tests 413.75 with a downside target of 397.15. We should have a stop loss in place at 414.94 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, 413.75, 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 413.75, target n/a, Stop Loss @ 412.78 Details

If 413.75 begins to break higher, the technical summary data tells us to buy SPOT just slightly over 413.75, with an upside target of n/a. The data also tells us to set a stop loss @ 412.78 in case the stock turns against the trade. 413.75 is the first level of resistance above 400.68, and by rule, any break above resistance is a buy signal. In this case, 413.75, 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 413.75, target 399.8, Stop Loss @ 414.72. Details

The technical summary data is suggesting a short of SPOT if it tests 413.75 with a downside target of 399.8. We should have a stop loss in place at 414.72 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, 413.75, 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 November 10:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	360.35
P2	387.77	382.75	385.88
P3	399.8	397.15	413.75

AI Generated Signals for SPOT

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Spotify Technology S.a. (NASDAQ: SPOT) while incorporating prudent risk controls.

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.

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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.