Spotify (#SPOTIFY) weekly uptrend opportunity based On 1.00 Lot Calculation:
Spotify is the world's most popular audio streaming subscription service with a community of more than 380 million monthly active users and 170 million Premium Subscribers with a presence in nearly 185 markets, and more than 70 million tracks including 3.2 million podcast titles. Spotify has license agreements with record label affiliates of the three largest music companies, Universal Music Group, Sony Music Entertainment, and Warner Music Group, as well as Merlin, which represents the digital rights on behalf of hundreds of independent record labels. The US generates most of its revenue at more than 35%.
- EVENT 1: Earnings report for (Q4) on February 2 (after market). Spotify grew its monthly active users to 381 million in the third quarter, 19% higher than the year-ago period. The number of premium subscribers also increased by 19% year over year to 172 million. Meanwhile, the company's revenue increased to 2.5 billion euros (roughly $2.9 billion), 27% higher than the prior-year quarter.
- According to Insider intelligence, podcasts will be a $94.88 billion industry by 2028. The same source projects 424.2 million podcast listeners worldwide in 2022, accounting for 20.3% of internet users. Just in the US, in 2022, the number of monthly US podcast listeners will increase by 6.1% year-over-year (YoY) to 125 million. Spotify remains the most-subscribed streaming service, owning a 32% market share, which was twice as high as its closest competitors.
- Spotify strikes a podcast deal with Joe Rogan worth more than $100 Million. His full library, dating back 11 years, became exclusive to Spotify. Joe Rogan, comedian, television host and mixed martial arts commentator, has become one of the most influential and lucrative podcast hosts in recent years.
- PRICE ACTION: Since record high in February 2021($407.96) the share price fell to a current $191. Potential growth in order to reach a previous high is 98.15%.
- Nasdaq has a strong buy recommendation with target at $329, Morgan Stanley target is at $350 while Barclays raised their price target from $300.00 to $310.00.
Spotify, January 24, 2022
Current Price: 186.00
|
Spotify |
Weekly |
|
Trend direction |
|
|
255.00 |
|
|
238.00 |
|
|
220.00 |
|
|
153.00 |
|
|
134.00 |
|
|
117.00 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Spotify |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
69,000.00 |
52,000.00 |
34,000.00 |
-33,000.00 |
-52,000.00 |
-69,000.00 |
|
Profit or loss in €** |
60,866.96 |
45,870.75 |
29,992.41 |
-29,110.28 |
-45,870.75 |
-60,866.96 |
|
Profit or loss in £** |
50,772.63 |
38,263.43 |
25,018.40 |
-24,282.56 |
-38,263.43 |
-50,772.63 |
|
Profit or loss in C$** |
87,262.23 |
65,762.84 |
42,998.78 |
-41,734.11 |
-65,762.84 |
-87,262.23 |
* 1.00 lot is equivalent of 1 000 units
** Calculations for exchange rate used as of 8:10 (GMT) 24/01/2022
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail