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.

Target hit 10/21/19 at $120, +5.6% consider the trade closed as we near the major resistance ceiling. I’m still holding the core position long-term, I think it has significantly higher prices in store.