Traders are pushing up shares of Spotify Technology (SPOT) on the heels of a company announcement that the digital music and video firm is cutting 6% of its staff. Let's check out the charts and indicators.
In the daily bar chart of SPOT, below, I can see that the shares have rallied to the declining 200-day moving average line in the past few weeks. SPOT is trading above the now rising 50-day moving average line.
The daily On-Balance-Volume (OBV) line shows some improvement from November. The Moving Average Convergence Divergence (MACD) oscillator is bullish.