On Wednesday Nov 3rd we asked everyone where Spotify was headed, if we’d repeat the bullish move through the price corridor or reject the bullish season and bounce down off resistance.

It seems Spotify won’t be riding Santa’s Sleigh for a rally but will be heading back down to a previous support level. Comparing the Indicators during the first to the current blue trendline. The first time around we weren’t oversold on the RSI threshold, and the MACD was giving us stronger momentum vibes.

It’s still anyone’s game, but this looks like a much better setup for credit spreads or an iron condor than going long.

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