NYSE:SPOT just released this week; here's my take on the chart after it's first week of trading...
Price action has now put our first bottom in place, where I'd expect 134 to be the HARD floor price before any further declines.
However, the range (green shaded zone) from the past 2 days, 'IMO', is the catalyst for a breakout, ideally in the upper direction. There is the option for a breakout below of course, and a bottom retest, but it is my opinion this does not occur.
It's first stop? It's 'ATH' on opening day (169), where naturally would anticipate a reaction/stall/retrace, and further continuation up to the next level (175), where I'd again see a stall, ?retrace?, before finally making its way to the 188 price level (green hash-line). Time frame for this is not relevant, but with the current markets increasing, and this still a new issue, might happen sooner than later.
It is here where depending on how price action moves at this level, I would determine if it makes it's way towards 200 or we see declines back towards the original breakout zone (green shaded area).
Will update as price hits any of these levels, above or below. Excited to watch it play out. Let me know your thoughts or if anyone is buying :)
(full disclosure: I do not own this stock at time of analysis, nor do I intend on purchasing at any time; consider for education only)
** These are based off current support resistance, , and measured/forecasted moves.