Spotify - SPOT
Entry: $113.6
Target: $120-122 back to broken support shelf. If the stock gets back above that, it has room back to $138-140 but for now it’s just an oversold bounce in a growth stock where growth stock sentiment is currently poor. The stock is oversold and curling up so feels like a decent long entry opportunity.
One of my favorite companies and having a tough year down, I like buying great businesses with huge long-term growth potential when they look terrible. It’s a long-term hold but I like this long trade set-up, catching the falling knife.