Is Forward Air Corp. technically bullish or bearish?

As of 3 October 2025, the technical trend for Forward Air Corp. has changed from mildly bullish to mildly bearish. The current technical stance is mildly bearish, driven by weekly indicators such as MACD, KST, and OBV all signaling bearish momentum. Additionally, Bollinger Bands are bearish on both weekly and monthly time frames. While the daily moving averages indicate a mildly bullish trend, the overall sentiment remains negative.
In terms of performance, Forward Air Corp. has significantly underperformed against the S&P 500 across multiple periods, with a year-to-date return of -27.35% compared to the S&P 500's 14.18%, and a 1-year return of -31.23% versus 17.82% for the index.