Resistance

Spot

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Spot stock price is trading above the key moving averages showcasing bullishness on the daily chart.</a> </li> 
 <li> <span>2</span> <a>Spotify stock price witnessed a surge of 10.36% in the last trading session.</a> </li> 
</ul> 
<p>Spotify stock (NYSE: SPOT) is showing bullish strength and is aiming for the $200 mark. This positive trend suggests a possible upward movement for SPOT stock, with a projected goal of $200. Therefore, buyers are likely to keep their long positions in the stock.</p> 
<p>Spotify stock is trading above the key moving averages and is indicating bullishness. Moreover, the chart structure based on the recent trading sessions shows a favorable bias for buyers. The stock has gained momentum and is ready for a possible upward move, with a target of reaching $200. The increased activity and traction also support the optimistic outlook for buyers in the market.</p> 
<p>At press time, SPOT stock was trading at $170.63 with an intraday gain of 10.36%, showing bullishness and a positive outlook on the charts. Furthermore, the intraday trading volume was 7.499 Million, and the market cap was $32.459 Billion.</p> 
<p>However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Spotify price is expected to move upward giving bullish views over the daily time frame chart.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-spotify-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of Spotify&nbsp; Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1272" height="577" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-700.png" alt="Spot Stock: Spotify Stock In Bullish Mode; Targeting $200 Mark" class="wp-image-178010" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-700.png 1272w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-700-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-700-1024x465.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-700-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-700-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-700-1140x517.png 1140w" sizes="(max-width: 1272px) 100vw, 1272px">
  <figcaption class="wp-element-caption">
   Source: Spotify.1D.NYSE by TradingView
  </figcaption>
 </figure>
</div> 
<p>Currently, Spotify stock (NYSE: SPOT) is trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the price momentum.&nbsp;</p> 
<p>The current value of RSI is 65.55 points. The 14 SMA is below the median line at 51.69 points, indicating that the Spotify stock is bullish.</p> 
<p>The MACD line at 0.9711 and the signal line at 0.5721 are above the zero line. A bullish crossover is observed in the MACD indicator which signals strength in the momentum of the SPOT <a href="https://www.thecoinrepublic.com/2023/09/25/spot-stock-nyse-spot-will-the-3-year-long-bearish-spell-end/" target="_blank" rel="noreferrer noopener">stock </a>price.</p> 
<p>Stochastic RSI is consolidating near the overbought level. The %D and %K lines make a negative crossover between them though it is yet to intercept the 80 RSI zone. The present value of stochastic RSI is 52.86 points.</p> 
<h2 class="wp-block-heading" id="strong-weekly-stats-spotify-stock-spot-stock-strong"><strong>Weekly stats Spotify Stock: SPOT Stock</strong></h2> 
<p>The weekly charts of Spotify stock reveal that the buyers have been dominant. The stock has been on an upward trend, as it has broken above the key EMAs. The technical indicators also confirm the bearish sentiment, as the RSI is near the oversold zone at 62.63 and the MACD has formed red bars and a bearish crossover. These signals indicate that the stock may face upside moves in the coming weeks.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Spotify stock (NYSE: SPOT) technical oscillators support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the SPOT stock price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, Investors and traders should wait for proper setup for the next move and avoid FOMO.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $145.62 and $129.22</p> 
<p>Resistance levels: $175.00 and $182.00</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

Spot Stock: Spotify Stock In Bullish Mode; Targeting $200 Mark

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