SPOT (Spotify) has been trading within a well-defined ascending parallel channel since late 2022. The recent dip brought price action close to the lower boundary of the channel, right at the 150-day moving average, which acted as support several times in the past.
This confluence between trendline and moving average support suggests potential for a bounce — possibly back toward the upper range of the channel.
This confluence between trendline and moving average support suggests potential for a bounce — possibly back toward the upper range of the channel.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.