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Spotify pice seeks a supportive bottom - Forecast today - 29-10-2026
Spotify Technology (SPOT) extended its losses in recent intraday trading as the stock attempts to establish a higher low that could serve as a base for rebuilding the positive momentum needed to recover and resume its upward trajectory. At the same time, the stock is attempting to work off its overbought conditions on the momentum indicators, which continue to generate bearish signals.
Meanwhile, the short-term bullish corrective trend remains firmly in control, with price action continuing to follow an ascending trendline that supports the prevailing bullish bias. The stock also continues to benefit from trading above its 50-day Simple Moving Average (SMA), which is providing positive support and strengthening the prospects for a recovery in the near term.
Therefore, our outlook remains bullish for the stock's upcoming trading sessions, as long as support at $528.00 remains intact. Under this scenario, the stock is expected to target the key resistance level at $593.00.
Today's price forecast: Bullish.
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