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Big movements in Trump Media & Technology Group Corp. stock price on Friday moving 11.90% between high and low

StockInvest.us, 2 months ago


The Trump Media & Technology Group Corp. stock price gained 0.555% on the last trading day (Friday, 12th Apr 2024), rising from $32.41 to $32.59. During the last trading day the stock fluctuated 11.90% from a day low at $29.57 to a day high of $33.09. The price has fallen in 7 of the last 10 days and is down by -47.4% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $158.37 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 $26.81 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -17.44% during the next 3 months and, with a 90% probability hold a price between $22.13 and $48.10 at the end of this 3-month period.

Trump Media & Technology Group Corp.

A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 0.555%. Further rise is indicated until a new top pivot has been found. 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. 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 $37.23 and $44.72. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Trump Media & Technology Group Corp. finds support from accumulated volume at $32.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $3.52 between high and low, or 11.90%. For the last week the stock has had daily average volatility of 11.04%.

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.