Is Spotify Technology SA technically bullish or bearish?

As of 3 October 2025, the technical trend for Spotify Technology SA has changed from bullish to mildly bullish. The weekly MACD is mildly bearish, while the monthly MACD is bullish, indicating mixed signals across time frames. The daily moving averages are mildly bullish, suggesting some positive momentum in the short term. The Bollinger Bands show a sideways trend weekly and mildly bullish monthly, further supporting a cautious bullish stance.
In terms of returns, Spotify has outperformed the S&P 500 significantly over the longer term, with a 1-year return of 82.64% compared to the S&P 500's 17.82%, but it has underperformed in the short term, with a 1-week return of -5.03% against the S&P 500's 1.09%. Overall, the current technical stance is mildly bullish, driven by monthly indicators and long-term performance, despite some short-term weakness.