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Spotify Technology S.A. (SPOT) US stocks Elliott Wave technical analysis [Video]

By: bitcoin ethereum news|2025/05/09 17:00:02
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SPOT Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Strucuture: Motive. Position: Wave {iii} of 5. Direction: Upside in wave {iii}. Details : A bottom in wave 4 appears established. We are now looking for a bullish move into wave {iii} of 5. A TradingLevel pattern above $650 could confirm continuation higher. Daily chart analysis overview The daily Elliott Wave analysis of Spotify (SPOT) reflects a continuation of the bullish trend, as wave 4 looks completed. The market setup now suggests the beginning of wave {iii} of 5, typically the strongest phase in a motive sequence. Traders should watch for a confirmed breakout pattern above the psychological level of $650. This would support the case for further upside and signal the strengthening of the current trend. SPOT Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Motive. Position: Wave v of (I). Direction: Upside in wave (I). Details : On the lower time frame, we are tracking the subdivision of wave {iii}. The stock may be forming wave (i) of {iii}, or already in wave {iii}, which could align in length with wave {i}. A further extension higher would indicate wave {v} development. One-hour chart summary Intraday action supports the bullish structure, reinforcing the daily outlook. The ongoing move is likely wave (i) of {iii}, with price action potentially targeting equality with prior impulse segments. If confirmed, wave {v} could deliver the next upward extension in this impulse sequence. Conclusion Both time frames suggest SPOT is in the early stages of a renewed bullish cycle. Monitoring for confirmation around $650 is critical for validating the wave count and potential long positions. Spotify Technology S.A. (SPOT) US stocks Elliott Wave technical analysis [Video] Source: https://www.fxstreet.com/news/spotify-technology-sa-spot-us-stocks-elliott-wave-technical-analysis-video-202505090832

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