SPOT (Spotify) has been trading within a well-defined ascending parallel channel since late 2022. The recent dip brought price action close to the lower boundary of the channel, right at the 150-day moving average, which acted as support several times in the past.
This confluence between trendline and moving average support suggests potential for a bounce — possibly back toward the upper range of the channel.
This confluence between trendline and moving average support suggests potential for a bounce — possibly back toward the upper range of the channel.
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