GitLabs stock price (GTLB) inched higher in latest intraday trading, retesting the pivotal resistance level of $47.75, while simultaneously touching the resistance of the 50-day SMA a move that adds to the stocks negative pressure. This comes alongside emerging negative signals streaming from the Stochastic after reaching extremely overbought levels, exaggerated relative to the price movement, suggesting the start of a negative divergence.

Therefore we expect the stock to decline in upcoming trading, as long as the resistance of $47.75 holds on, targeting the pivotal support level of $40.40.

Todays price forecast: Bearish