(Finance) – Strong rise for Spotify Technologywhich shows a burning rise of 10.01% on previous values.
The third quarter results announced by the streaming giant contribute to assisting the shares. The period ended with a growth of 26% of active users (+23 million), which brings the total to 574 million. Spotify now expects to surpass 600 million active users by the end of this year. Also increasing by 16%. paying subscribers that reach altitude 226 million.
Comparing the performance of the stock with theS&P-500on a weekly basis, we notice that the leading provider of digital music services maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance +7.56%, compared to -3.06% of theUS basketball index).
The medium-term scenario of Spotify Technology confirms the negative trend of the curve. However, the analysis of the short-term chart highlights an easing of the bearish phase preparatory to a rise towards the first resistance area seen at 174.7 USD. Support at 164.2. Any positive elements support the achievement of a new top seen in the 185.1 area.