High volatility in Trump Media & Technology Group Corp. stock price on Wednesday which ended trading at $66.22

The Trump Media & Technology Group Corp. stock price gained 14.19% on the last trading day (Wednesday, 27th Mar 2024), rising from $57.99 to $66.22. It 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 last trading day the stock fluctuated 15.46% from a day low at $62.30 to a day high of $71.93. The price has risen in 4 of the last 10 days and is up by 81.82% over the past 2 weeks. Volume fell on the last day by -21 million shares and in total, 32 million shares were bought and sold for approximately $2.13 billion. 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 $65.53, a level that may pose a second chance to hit a runner. According to fan-theory $80.54 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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. 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 Tuesday, November 30, -1. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $57.99 and $49.95.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $49.95 may give a huge drop in the stock price.

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 $9.63 between high and low, or 15.46%. For the last week the stock has had daily average volatility of 28.16%.

The Trump Media & Technology Group Corp. stock is extremely overbought on RSI14 (86). 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.

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.