NYSE trade advice (C): US broadcasting stock | 6-8% gain | USA stock trading signal on 5 Jun 2024

Date
June 5, 2024
Analysed By
Naranj Capital Research Desk
Stock Market
NYSE, United States of America

US Stocks Trading Signals

  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Spotify Technology
  • 315 – 325
  • 345 – 350
  • Below 303
  • 6% – 8%
  • 14 - 15 Days
  • Buy
    Spotify Technology
  • Buy
    Range
    315 – 325
  • Target
    345 – 350
  • Stoploss
    Below 303
  • Upside
    Potential
    6% – 8%
  • Trade
    Duration
    14 - 15 Days
  • * Once the first target hit, reset the StopLoss at your buying price.

    Spotify Technology (NYSE: SPOT) - Stock Overview

  • NYSE code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • SPOT
  • Spotify Technology
  • Broadcasting
  • -
  • -
  • NYSE code SPOT
  • Stock Name Spotify Technology
  • Sector Broadcasting
  • 52 Weeks High -
  • 52 Weeks Low -
  • Spotify Technology (NYSE: SPOT) vs NYSE - Relative Strength Comparison

    The image compares Spotify's 1-year performance to NYSE.
    Relative Performance - Last 1 Year
    SPOT —   NYSE —

  • Spotify Technology (NYSE: SPOT) - Technical Analysis (Daily)

    Spotify Technology - Technical Analysis chart on Daily Price and Volume
    Spotify Technology - Technical Analysis chart on Daily Price and Volume

    • The price has consistently been on an upward trend, continuously reaching higher highs and lows.
    • A chart analysis reveals the formation of an Ascending Triangle pattern.
    • With a powerful breakout, the price is currently trading at its highest level ever recorded and is anticipated to continue rising.
    • As long as the price remains above the 300 level, the overall market sentiment will remain optimistic and bullish.
  • Spotify Technology (NYSE: SPOT) - RSI Indicator

    Spotify Technology stock analysis based on RSI Indicator
    Spotify Technology - RSI Indicator

    • Current RSI of this stock is 65.74, which indicates the strength of buyers.

  • Spotify Technology (NYSE: SPOT) - MACD Indicator

    Spotify Technology stock analysis based on MACD Indicator
    Spotify Technology - MACD Indicator

    • MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

  • Spotify Technology (NYSE: SPOT) - OBV Indicator

    Spotify Technology stock analysis based on OBV Indicator
    Spotify Technology - OBV Indicator

    • The OBV line is moving in the same upward direction which means there is a positive sentiment in the market. Also the significant price up move accompanying with increasing OBV volume suggests strong buying pressure.

  • Conclusion - Spotify Technology (NYSE: SPOT) Stock Price Forecast

    Based on our best swing trading stocks in USA, Spotify Technology stock price target will be USD 345 - USD 350 in the next 14-15 trading sessions.

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    Stoploss reached. Trade closed.

    23 days
    11 Jul 2024
    5 Jun 2024
    Loss per
    100,000 SAR
    23 days
    -3,810
    Stop-loss
    11 Jul 2024
    303
    Buy Advice
    5 Jun 2024
    315 – 325
    Target 1
    345
    Target 2
    350
    Profit per
    100,000 SAR
    -3,810
    303
    315 – 325
    345
    350
    23 days
    11 Jul 2024
    5 Jun 2024
    Loss per
    100,000 SAR
    23 days
    -3,810
    Stop-loss
    11 Jul 2024
    303
    Buy Advice
    5 Jun 2024
    315 – 325
    Target 1
    345
    Target 2
    350
    Profit per
    100,000 SAR
    -3,810
    303
    315 – 325
    345
    350
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Spotify Technology
  • 315 – 325
  • 345 – 350
  • Below 303
  • 6% – 8%
  • 14 - 15 Days
  • Buy Spotify Technology
  • Buy
    Range
    315 – 325
  • Target 345 – 350
  • Stoploss Below 303
  • Upside
    Potential
    6% – 8%
  • Trade
    Duration
    14 - 15 Days
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Spotify Technology
  • 315 – 325
  • 345 – 350
  • Below 303
  • 6% – 8%
  • 14 - 15 Days
  • Buy
    Spotify Technology
  • Buy
    Range
    315 – 325
  • Target
    345 – 350
  • Stoploss
    Below 303
  • Upside
    Potential
    6% – 8%
  • Trade
    Duration
    14 - 15 Days
  • * Once the first target hit, reset the StopLoss at your buying price.
    * Trade durations are approximate; actual holding period may vary.

    Spotify Technology (NYSE: SPOT) - Stock Overview

  • NYSE code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • SPOT
  • Spotify Technology
  • Broadcasting
  • -
  • -
  • NYSE code SPOT
  • Stock Name Spotify Technology
  • Sector Broadcasting
  • 52 Weeks High -
  • 52 Weeks Low -
  • Company profile

    Spotify Technology S.A. and its subsidiaries deliver audio streaming subscription services globally. The company is divided into two segments: Premium and Ad-Supported. The Premium segment provides ad-free online and offline streaming of music and podcasts to subscribers, while the Ad-Supported segment offers on-demand online access to music and podcasts with ads. Additionally, Spotify offers various services such as sales, distribution, marketing, research and development, and customer support. Founded in 2006, Spotify Technology S.A. is headquartered in Luxembourg City, Luxembourg.

  • Spotify Technology (NYSE: SPOT) vs NYSE - Relative Strength Comparison

    The image compares Spotify's 1-year performance to NYSE.
    Relative Performance - Last 1 Year
    SPOT —   NYSE —

  • Spotify Technology (NYSE: SPOT) - Technical Analysis (Daily)

    Spotify Technology - Technical Analysis chart on Daily Price and Volume
    Spotify Technology - Technical Analysis chart on Daily Price and Volume

    • The price has consistently been on an upward trend, continuously reaching higher highs and lows.
    • A chart analysis reveals the formation of an Ascending Triangle pattern.
    • With a powerful breakout, the price is currently trading at its highest level ever recorded and is anticipated to continue rising.
    • As long as the price remains above the 300 level, the overall market sentiment will remain optimistic and bullish.
  • Spotify Technology (NYSE: SPOT) - RSI Indicator

    Spotify Technology stock analysis based on RSI Indicator
    Spotify Technology - RSI Indicator

    • Current RSI of this stock is 65.74, which indicates the strength of buyers.

  • Spotify Technology (NYSE: SPOT) - MACD Indicator

    Spotify Technology stock analysis based on MACD Indicator
    Spotify Technology - MACD Indicator

    • MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

  • Spotify Technology (NYSE: SPOT) - OBV Indicator

    Spotify Technology stock analysis based on OBV Indicator
    Spotify Technology - OBV Indicator

    • The OBV line is moving in the same upward direction which means there is a positive sentiment in the market. Also the significant price up move accompanying with increasing OBV volume suggests strong buying pressure.

  • Conclusion - Spotify Technology (NYSE: SPOT) Stock Price Forecast

    Based on our best swing trading stocks in USA, Spotify Technology stock price target will be USD 345 - USD 350 in the next 14-15 trading sessions.

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    Details of Arijit Banerjee

    Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.

    Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.

    Through Naranj Capital, Arijit shares his market insights and research analysis, offering actionable advice for investors. His work is featured on platforms like TradingView, where he publishes detailed analysis and recommendations.

    If you’re interested in learning more about Arijit’s work or Naranj Capital’s services, you can reach out to them directly through their website