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 remains bullish, indicating mixed signals across time frames. The daily moving averages are mildly bullish, supporting a positive short-term outlook. The Bollinger Bands show a sideways movement weekly but are mildly bullish monthly, suggesting potential for upward movement. The KST is mildly bearish weekly but bullish monthly, and the Dow Theory indicates a mildly bullish stance weekly with no trend monthly. The OBV is bullish weekly, indicating accumulation.
In terms of performance, Spotify has outperformed the S&P 500 year-to-date with a return of 52.06% compared to 14.18%, and over one year, it has returned 83.14% versus 17.82% for the index. However, it has underperformed in the short term, with a -6.62% return over the past week compared to the S&P 500's 1.09%. Overall, the current technical stance is mildly bullish, driven by the daily moving averages and monthly indicators.