My Favorite Stock: Spotify

On my last post, I recommended Twitter with a buy of $28. On Twitter, I live-tweeted my purchase and sold today. I held for about a month, but it indeed paid off, with a huge 15%+ move after reporting earnings.

Bought $twtr on Friday https://t.co/33zYolufbV

— Chart Learning (@ChartLearning) September 30, 2018

My new favorite, as I have posted about before is Spotify ($SPOT). The good news is due to market conditions it's pulling back. I am unsure where is a good price to buy as with every IPO, it really lacks price history since the stock is so new. I am currently monitoring the stock's behavior and may decide to purchase for a quick/medium term trade in the future. However, it's worth noting they are reporting earnings next week.

Will Twitter Bounce Back?

For those following me throughout the years, would know I've made the most money in the market trading Twitter ($TWTR). Fortunately, there seems to be a new opportunity. Due to disappointing earnings, Twitter has pulled back. However, prior to this pullback, Twitter had been attempting to break $50. Using my proprietary analysis, I believe Twitter will be a good buy around $28 dollars. However, it may not get that low before it starts bouncing.

Why Spotify ($SPOT) Should Be On Your Radar

I normally don't trade IPOs, but Spotify has definitely caught my attention and will be looking to buy on a nice pullback if one ever occurs. Here's a good video explaining the bull case for this new IPO.