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  • Swing Trade Idea (SPOT) – November 17, 2021

    Nov 17, 2021 Swing Options Tips Comments Off on Swing Trade Idea (SPOT) – November 17, 2021

    Our bearish trade for Wednesday, November 17th is Spotify (SPOT). SPOT is part of the Technology sector and is currently underperforming relative to its sector. 

    SPOT recently broke below the $280 support level and rejected on the retest which provides a good risk/reward bearish entry. Additionally, its 6M trend has just turned neutral from bullish.

    As a close, if SPOT were to trade above $280 for multiple days, this would invalidate our analysis and we would focus cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $15.20.

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