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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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.