Toast, Inc. (TOST) edged higher in its latest intraday trading, after finding support at its 50-period SMA, which provided the stock with some positive momentum. This move comes after the stock successfully broke above a short-term corrective bearish trendline, while the RSI has managed to unwind its overbought conditions, giving the price more room to post additional gains in the near term.

 

Therefore we expect the stock price to rise further in the upcoming intraday trading, as long as it holds above 34.80, to target the key resistance level at 39.75.

 

Today’s price forecast: Bullish