Spotify Technology S.A. (NYSE:SPOT) Stock Just Jumps After Samsung Partnership

Spotify Technology S.A. (NYSE:SPOT) Stock Just Jumps After Samsung Partnership

Spotify Technology S.A. (NYSE:SPOT) Stock Just Jumps After Samsung Partnership 

Streaming music service Spotify Technology (SPOT) and consumer electronics heavyweight Samsung are partnering to take on mutual rival Apple (AAPL). Spotify stock jumped on the news Thursday.

Spotify stock rose by just under 5 percent on the day closing at $187.38. Prices have thus far peaked in July at $196.28, however, today’s closing price is still up 25% from $149 after SPOT’s first day of trading back in April.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 201.11.

The projected lower bound is: 174.89.

The projected closing price is: 188.00.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 59.9387. This is not an overbought or oversold reading. The last signal was a buy 3 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 56.86. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. (*ERROR*: Function did not return a value)

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 27. This is not a topping or bottoming area. The last signal was a buy 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 8 period(s) ago.

Rex Takasugi – TD Profile

SPOTIFY TECHNLGY closed up 8.680 at 187.380. Volume was 25% above average (neutral) and Bollinger Bands were (*ERROR*: Function did not return a value)% (*ERROR*: Function did not return a value)

Open High Low Close Volume___
179.070 190.000 177.930 187.380 466,504

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: (*ERROR*: Function did not return a value)(*ERROR*: Function did not return a value)

Moving Averages: 10-period 50-period 200-period
Close: 180.68 176.93(*ERROR*: Function did not return a value)
Volatility: 61 47(*ERROR*: Function did not return a value)
Volume: 327,914 321,731(*ERROR*: Function did not return a value)

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

SPOTIFY TECHNLGY is currently (*ERROR*: Function did not return a value)% (*ERROR*: Function did not return a value) its 200-period moving average and is in an downward trend. Volatility is (*ERROR*: Function did not return a value) Our volume indicators reflect volume flowing into and out of SPOT.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on SPOT.N and have had this outlook for the last (*ERROR*: Function did not return a value) periods.

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