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High volatility in Trump Media & Technology Group Corp. stock price on Tuesday which ended trading at $51.60

StockInvest.us, 1 month ago


The Trump Media & Technology Group Corp. stock price gained 6.04% on the last trading day (Tuesday, 2nd Apr 2024), rising from $48.66 to $51.60. During the last trading day the stock fluctuated 12.87% from a day low at $47.00 to a day high of $53.05. The price has risen in 5 of the last 10 days and is up by 41.68% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 11 million shares were bought and sold for approximately $556.99 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 lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $50.34 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 38.06% during the next 3 months and, with a 90% probability hold a price between $69.50 and $100.68 at the end of this 3-month period.

Trump Media & Technology Group Corp.

The Trump Media & Technology Group Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $53.33. On a fall, the stock will find some support from the long-term average at approximately $49.55. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Monday, April 01, 2024, and so far it has risen 6.04%. Further rise is indicated until a new top pivot has been found. 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.

Trump Media & Technology Group Corp. finds support from accumulated volume at $49.95 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 $6.05 between high and low, or 12.87%. For the last week the stock has had daily average volatility of 23.52%.

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