Big movements in Digital World Acquisition Corp. stock price on Tuesday moving 23.91% between high and low

The Digital World Acquisition Corp. stock price gained 18.24% on the last trading day (Tuesday, 18th Jan 2022), rising from $85.95 to $101.63. , 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 23.91% from a day low at $85.95 to a day high of $106.50. The price has risen in 7 of the last 10 days and is up by 73.82% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 49 thousand more shares were traded than the day before. In total, 63 thousand shares were bought and sold for approximately $6.44 million.

The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $110.87 will give a strong buy signal and a trend shift could be expected.Given the current horizontal trend, you can expect Digital World Acquisition Corp. stock with a 90% probability to be traded between $12.51 and $113.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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 $78.69 and $63.12. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, October 22, 2021, and so far it has fallen -6.62%. Further fall is indicated until a new bottom pivot has been found.

Digital World Acquisition Corp. finds support from accumulated volume at $98.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $20.55 between high and low, or 23.91%. For the last week, the stock has had a daily average volatility of 15.52%.

Digital World Acquisition Corp. holds several positive signals and is considered to be a good choice at current levels. We expect the Digital World Acquisition Corp. stock to perform great in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.