Spotify in charts: Premium powers growth as subscribers reach 300M in Q2
Spotify's Q2 subscribers reached 300,000 (300M), driven by growth in the premium segment.
The current price is positioned between the 20-day low support line and the high resistance line, and entry was considered while paying attention to whether it can break through the 528.09 resistance line after testing support around 456.00.
After testing support around 456.00, I will take profits if it rises and breaks through the resistance level of 528.09. If the support level of 456.00 is breached, I will cut my losses.
RSI(14) is 57.4, the moving averages are misaligned, and the trading volume is 2.02 times the 20-day average.
As a past similar success case, there is the case of SPOT, which recorded a return of 10.9% on August 20, 2026, with the keyword 'Spotify' overlapping. Although there is no direct similarity, it is worth referencing the top-performing cases of VEEE (July 16, 2026, 451.7%) and LRCX (July 6, 2026, 346.8%).
With the positive news of achieving 300M subscribers in Q2, trading volume surged to 2.02 times the 20-day average, resulting in an actual return of 10.9%, surpassing the predicted return of 2.1%. It is regrettable that we did not accurately identify the stronger-than-expected buying pressure during the process of testing support around 456.00 and moving towards the resistance level of 528.09.
Through this trade, we learned that it is necessary to keep the target price a bit more flexible during a breakout phase accompanied by increased trading volume. In the future, at points where similar momentum and a surge in trading volume coincide, we will apply a partial selling strategy in addition to a conservative profit-taking level to maximize returns.