$SPOTA lot has happened to Spotify during the last year.
The stock soared over 165% and reached $364 in February. Since then, the stock price has declined by over 40% since.
Spotify continues its global dominance, adding 27 million net subscribers between Q1 2020 and Q1 2021, more than any other single service. However, it lost two points of market share over the period because its percentage growth rate trailed that of its leading competitors. \
Google was the fastest-growing music streaming service in 2020, growing by 60%, with Tencent second at 40%. Amazon continued its steady trajectory, up 27%, while Apple grew by just 12%.
But moving onto the technical side of things.
Spotify is a classic example of previous resistance now acting as support.
Price closed on a hammer on the weekly.
MACD curling w/ the RSI above 50.
Keep this on your watchlist.
