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A very red day for Trump Media & Technology Group Corp. stock price after a -5.40% fall in the Thursday trading session

StockInvest.us, 1 month ago

StockInvest.us

The Trump Media & Technology Group Corp. stock price fell by -5.40% on the last day (Thursday, 11th Apr 2024) from $34.26 to $32.41. During the last trading day the stock fluctuated 7.86% from a day low at $32.15 to a day high of $34.68. The price has fallen in 8 of the last 10 days and is down by -51.06% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -528 thousand shares and in total, 4 million shares were bought and sold for approximately $119.20 million.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $29.24 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -13.58% during the next 3 months and, with a 90% probability hold a price between $25.27 and $52.11 at the end of this 3-month period.

Trump Media & Technology Group Corp.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Trump Media & Technology Group Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $39.55 and $45.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -37.19%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.53 between high and low, or 7.86%. For the last week the stock has had daily average volatility of 11.53%.

Trump Media & Technology Group Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Check full Trump Media & Technology Group Corp. forecast and analysis here.