SPOTIFY TECHNOLOGY (SPOT) stock price declined again during its latest intraday trading, amid continued negative pressure from trading below its previous 50-day simple moving average, which reinforces the stability and dominance of the main bearish trend over the medium term, while moving alongside a trendline supporting this trajectory. In addition, the RSI indicators have entered severely overbought territory in an exaggerated manner relative to the stocks movement, suggesting the beginning of a negative divergence formation.

Therefore we expect the stock price to decline during its upcoming trading sessions, as long as resistance at $488.80 remains intact, targeting the key support level at $410.00.

Todays price forecast: Bearish