Big movements in Digital World Acquisition Corp. stock price on Friday moving 164.86% between high and lowStockInvest.us, 1 month ago
The Digital World Acquisition Corp. stock price gained 121.76% on the last trading day (Friday, 22nd Oct 2021), rising from $49.08 to $108.84. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 164.86% from a day low at $53.99 to a day high of $143.00. The price has risen in 6 of the last 10 days and is up by 968.84% over the past 2 weeks. Volume fell on the last day by -9 million shares and in total, 2 million shares were bought and sold for approximately $211.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $33.48, a level that may pose a second chance to hit a runner.
The Digital World Acquisition Corp. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $29.82 and $14.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 11, 2021, and so far it has risen 977.62%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
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.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $89.01 between high and low, or 164.86%. For the last week, the stock has had a daily average volatility of 94.81%.
The Digital World Acquisition Corp. stock is extremely overbought on RSI14 (100). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Digital World Acquisition Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full Digital World Acquisition Corp. forecast and analysis here.