RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of SPOT
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Green day on Thursday for Spotify Technology SA
(Updated on Mar 28, 2024)

Buy or Hold candidate since Oct 30, 2023 Gain 62.23% PDF

The Spotify Technology SA stock price gained 1.42% on the last trading day (Thursday, 28th Mar 2024), rising from $260.20 to $263.90. During the last trading day the stock fluctuated 4.09% from a day low at $258.00 to a day high of $268.55. The price has fallen in 6 of the last 10 days but is still up by 2.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 81 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $355.15 million.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $261.59 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 41.17% during the next 3 months and, with a 90% probability hold a price between $369.29 and $411.14 at the end of this 3-month period.

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SPOT Signals & Forecast

The Spotify Technology SA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $262.16 and $254.89. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -2.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Spotify Technology SA stock

On the downside, the stock finds support just below today's level from accumulated volume at $240.83 and $231.92. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Spotify Technology SA finds support just below today's level at $240.83. If this is broken, then the next support from accumulated volume will be at $231.92 and $223.25.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $10.55 (4.09%) between high and low. For the last week, the stock has had daily average volatility of 3.62%.

Our recommended stop-loss: $253.03 (-4.12%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (SPOT) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Spotify Technology SA to open at $263.48, and during the day (based on 14 day Average True Range), to move between $256.37 and $271.43, which gives a possible trading interval of +/-$7.53 (+/-2.85%) up or down from last closing price. If Spotify Technology SA takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $267.00 (1.17%) than the support at $240.83 (8.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Spotify Technology SA stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Spotify Technology SA stock to perform well in the short-term.

Current score: 4.961 Buy Candidate Unchanged

Predicted Opening Price for Spotify Technology SA of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$263.48 ( 0.159%) $263.90

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for SPOT

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 274.03 3.84 %
R2 270.00 2.31 %
R1 267.51 1.37 %
Current price: 263.90
Support S1 259.45 -1.68 %
S2 256.96 -2.63 %
S3 252.94 -4.15 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 270.00 2.31 %
R2 268.03 1.56 %
R1 267.00 1.17 %
Current price 263.90
Support S1 240.83 -8.74%
S2 231.92 -12.12%
S3 223.25 -15.40%

FAQ

What is the symbol for Spotify Technology SA Stock and on which exchange is it traded?
The symbol for Spotify Technology SA is SPOT and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Spotify Technology SA Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Spotify Technology SA stock to perform well in the short-term.

How to buy Spotify Technology SA Stock?
Spotify Technology SA Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Spotify Technology SA Stock.

What's the current price of Spotify Technology SA Stock?
As of the end of day on the 2024-03-28, the price of an Spotify Technology SA (SPOT) share was $263.90.

What is the 52-week high and low for Spotify Technology SA Stock?
The 52-week high for Spotify Technology SA Stock is $278.30 and the 52-week low is $128.57.

What is the market capitalization of Spotify Technology SA Stock?
As of the 2024-03-28, the market capitalization of Spotify Technology SA is 51.23B.

When is the next earnings date for Spotify Technology SA?
The upcoming earnings date for Spotify Technology SA is Apr 23, 2024.
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About Spotify Technology SA

Spotify Technology SA Spotify Technology S.A., together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts ... SPOT Profile

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