Is Trump Media & Technology Group Corp. stock still a buy after falling -5.45% on Thursday?

The Trump Media & Technology Group Corp. stock price fell by -5.45% on the last day (Thursday, 4th Apr 2024) from $48.81 to $46.15. During the last trading day the stock fluctuated 6.26% from a day low at $45.51 to a day high of $48.36. The price has fallen in 6 of the last 10 days but is still up by 7.58% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 5 million shares were bought and sold for approximately $214.94 million.

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 $46.02 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 21.01% during the next 3 months and, with a 90% probability hold a price between $55.69 and $87.00 at the end of this 3-month period.

There are few to no technical positive signals at the moment. 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. On corrections up, there will be some resistance from the lines at $54.48 and $49.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -10.56%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

On the downside, the stock finds support just below today's level from accumulated volume at $42.90 and $42.81.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Trump Media & Technology Group Corp. finds support just below today's level at $42.90. If this is broken, then the next support from accumulated volume will be at $42.81 and $36.94.

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 $2.85 between high and low, or 6.26%. For the last week the stock has had daily average volatility of 15.91%.

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.