Spotify Technology (SPOT) stock price declined during its latest intraday trading, amid the dominance of the main downward trend in the short term, as it moves along a supporting trend line for this path. The stock is also facing continued negative pressure as it trades below its 50-day simple moving average, which limits the chances of a full recovery in the near term, especially with ongoing negative signals from the Relative Strength Index, despite its stability in deeply oversold territory.

Therefore, we expect the stock price to decline in upcoming trading sessions as long as the resistance level at $497.00 holds, targeting the key support level at $453.70.

Todays price forecast: Bearish