VoSI VooDoo(TM) Report - September 3, 2018

Published:

3 Sep 2018 17:19 ET

The VoSI VooDoo Report
Offbeat Ideas and Commentary from the Depths of Gil's Trading Notes

We first reported on Spotify (SPOT) on June 6th when it posted a pocket pivot at the 10-dma on strong volume. Back then it was trading closer to 160. The stock is now trading just below the 190 level, closing Friday at 189.51 and right on top of its 20-dema on volume that was -55.5% below-average, qualifying as a voodoo volume signature. This would put the stock in a buyable position using the 20-dema as a selling guide. SPOT tends to be volatile so that if it cannot hold the 20-dema then watch for the 50-dma at 183.69 to come into play.

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