Spotify: 10th week, earnings due this week
Spotify stock: +3.6% in week 10, with earnings due this week
Spotify: 10th week, earnings due this week
Our view last week
Spotify shares attempt an 8% rebound off a clean double bottom in the 445 area, closing the week with a modest +0.9%. Compared with a week ago, when the weekly MACD had turned lower, this week it's improving again - but the ADX keeps slipping, down to 19.2, with the trend losing conviction. The buy signal, now in its 9th week, is showing signs of fatigue: earnings on August 4 are approaching, calling for caution in this Spotify technical analysis.
This week's summary
Spotify stock closes the week up 3.6%, the second straight gain after last week's 8% rebound, but the picture stays bullish-with-warnings: an indecisive phase, sellers slightly ahead in the last session, and distribution still underway. The weekly ADX keeps slipping, down to 18.2, and the trend keeps losing conviction. The buy signal, now in its 10th week, lands right in earnings week, due August 4: caution is warranted in this Spotify technical analysis.
IQS Phase
59
ordinary
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#65 / 120
US stocks in progress
Trade P&L %
-3.83%
from signal to date, no stop loss
Rank position
ranks 65th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 55 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
SPOT belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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