Is Forward Air Corp. technically bullish or bearish?

As of 31 October 2025, the technical trend for Forward Air Corp. has changed from sideways to mildly bearish. The current stance is bearish, driven by the weekly MACD and Bollinger Bands both indicating bearish signals, alongside a bearish reading from the On-Balance Volume (OBV). The Dow Theory shows a mildly bearish trend on a monthly basis. Although the daily moving averages are mildly bullish, they are overshadowed by the overall bearish indicators.
In terms of performance, Forward Air Corp. has significantly underperformed compared to the S&P 500 across multiple periods, with a year-to-date return of -41.67% versus the S&P 500's 16.30%, and a one-year return of -46.76% compared to 19.89% for the index.