May 09, 2021 (Stock Traders Daily via COMTEX) -- #Investors often shrug off the impact of #stimulus but when fabricated demand comes into the #stockmarket everything is affected, even Spotify Technology Sa /zigman2/quotes/207488629/composite SPOT +1.19% and other stocks that might not be direct beneficiaries. They say, a rising tide lifts all boats, and multiple expansion is a natural byproduct, but it works in both ways. For SPOT we can see the impact demand changes have on price by looking at the trading plans and pivot points below. This changes over time, so we suggest updating the data for the most actionable results, but this static example also demonstrates how this is done. For an update, please request Unlimited Real Time Reports .
The Technical Summary and Trading Plans for SPOT help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this SPOT Report.
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
The technical summary data is suggesting a short of SPOT as it gets near 276.16, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 276.96. 276.16 is the first level of resistance above 239.41, and by rule, any test of resistance is a short signal. In this case, if resistance 276.16 is being tested, so a short signal would exist.
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