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Barchart
Barchart
Wajeeh Khan

Spotify Just Broke Through a Key Resistance Level. Is More Upside in Store for SPOT Stock After Earnings?

Spotify (SPOT) shares rallied nearly 20% on Feb. 10, after the audio streaming giant posted market-beating financials for its Q4 and issued upbeat guidance for the current quarter. The post-earnings surge briefly pushed SPOT above its 20-day relative strength index (RSI), a technical breakout that often accelerates bullish momentum in the near term. 

Despite the rally on Tuesday, Spotify stock remains down nearly 20% versus its year-to-date high.

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