Manchester United plc (MANU) moved lower in recent intraday trading amid the emergence of negative signals from momentum indicators. The stock appears to be searching for a higher low that could serve as a foundation for rebuilding positive momentum and supporting a fresh recovery. Despite the recent weakness, the primary medium-term bullish trend remains intact, with price action continuing to track a short-term ascending trendline. Positive pressure also persists as the stock continues to trade above its 50-day Simple Moving Average (SMA), reinforcing the prospects for a near-term rebound.

Therefore, our outlook remains biased to the upside for the stock's upcoming trading sessions, particularly as long as support at $20.90 holds firm. Under this scenario, the stock is expected to retest the key resistance level at $23.80.

Today's price forecast: Bullish.