• Spotify Soars Amid Bullish Signals, Analysts Eye Upside Potential

  • Nov 12 2024
  • Length: 3 mins
  • Podcast

Spotify Soars Amid Bullish Signals, Analysts Eye Upside Potential

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  • Summary

  • **Spotify (SPOT) Analysis:**

    1. **Current Price and Intraday Trading Range:**
    - The current price of SPOT is $405.11 as of Monday morning, 11/11/2024[2].
    - Intraday trading range on 11/05/2024 was between $378.97 and $383.99[2].

    2. **Pre-market and After-hours Movement:**
    - No specific pre-market or after-hours movement data is available in the provided sources.

    3. **Trading Volume vs Average:**
    - The average volume for SPOT is around 1,803,420 over the last 5 days[4].
    - No specific comparison to the current day's volume is available.

    4. **Recent News or Announcements:**
    - There are no recent news or announcements in the last 24 hours mentioned in the provided sources.

    5. **Major Analyst Updates or Price Target Changes:**
    - The median target price from 100 analysts is $259.83, with a high estimate of $425.00 and a low estimate of $120.00[2].
    - No recent updates or changes in price targets are mentioned.

    6. **Options Flow Activity:**
    - No information on options flow activity is available in the provided sources.

    7. **Related Semiconductor/AI Sector News Affecting Spotify:**
    - There is no direct mention of how semiconductor/AI sector news affects Spotify in the provided sources.

    8. **Key Technical Indicators for Day Trading:**
    - **Moving Averages:**
    - 5-Day: $390.41, +16.18, +4.21%[4].
    - 20-Day: $382.96, +26.98, +7.22%[4].
    - 100-Day: $345.07, +90.78, +29.29%[4].
    - **Stochastic Indicators:**
    - 9-Day: 82.44% (Raw Stochastic), 79.94% (Stochastic %K), 59.94% (Stochastic %D)[4].
    - **Relative Strength Index (RSI):**
    - 9-Day: 68.63%[4].
    - **MACD Oscillator:**
    - 9-Day: 7.57[4].

    **Market Sentiment:**
    - The consensus rating for Spotify stock is "Buy," based on 83 buy ratings, 17 hold ratings, and 0 sell ratings[2].
    - The stock has shown significant growth, with a 52-week low of $165.25 and a current price indicating a 231.11% increase[2].
    - Technical indicators suggest a strong upward trend, but with potential for overheating as indicated by the RSI and stochastic indicators[4].
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