(Finance) – Composed and controlled reduction for Spotify Technologywhich shows a drop of 2.22% on the previous values.
The music streaming big, aligning itself with the weakness of the market, is unable to benefit from the positive evaluation of Wolfe Research, which has updated Spotify’s judgment to outperform from perform. The research firm cites an increase in revenue thanks to higher prices and growth in advertising revenue motivating the promotion of the title.
The comparison of the title with theS&P-500on a weekly basis, shows the greatest relative strength of the leading provider of digital music services compared to the index, highlighting the concrete attractiveness of the stock by buyers.
The short term exam Spotify Technology classifies a strengthening of the bullish phase with immediate resistance seen at 158.4 USD and first support identified at 150.7. Technically we expect a further upward trend of the curve towards new tops estimated in the 166.1 area.