Spotify bouncing off double bottom, confirmation signals caution

Spotify is in week 4 of a buy signal with the trade still in negative territory, -9.96% from entry. The confirmation week closed bearish, pointing toward a potential exit. On the daily chart, however, a double bottom in the 418 area with a 24% rebound offers a concrete technical support signal — one that coexists with a still-weak weekly structure and the stock trading below the Ichimoku cloud.