Is Udemy, Inc. technically bullish or bearish?

As of 3 October 2025, the technical trend for Udemy, Inc. has changed from mildly bearish to bearish. The current technical stance is bearish, with key indicators such as the daily moving averages and Bollinger Bands both signaling bearish trends. The weekly MACD and KST show mildly bullish momentum, but this is overshadowed by the overall bearish sentiment in the daily indicators. The stock has underperformed compared to the S&P 500 across multiple periods, with a year-to-date return of -17.86% versus the S&P 500's 14.18%, and a three-year return of -45.96% compared to the S&P 500's 82.57%.