Trump Media & Technology Group Corp. Stock Forecast
Green day on Wednesday for Trump Media & Technology Group Corp.
(Updated on May 08, 2024)
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.57% during the next 3 months and, with a 90% probability hold a price between $19.96 and $59.62 at the end of this 3-month period.
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DJT Signals & Forecast
The Trump Media & Technology Group 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 $48.25 and $42.35. 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 Tuesday, April 30, 2024, and so far it has fallen -1.34%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Trump Media & Technology Group Corp. stock
Trump Media & Technology Group Corp. finds support from accumulated volume at $48.66 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 $3.20 between high and low, or 6.80%. For the last week, the stock has had daily average volatility of 8.42%.
Our recommended stop-loss: $47.31 (-3.96%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (DJT) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Trump Media & Technology Group Corp. to open at $48.85, and during the day (based on 14 day Average True Range), to move between $43.19 and $55.33, which gives a possible trading interval of +/-$6.07 (+/-12.31%) up or down from last closing price. If Trump Media & Technology Group Corp. takes out the full calculated possible swing range there will be an estimated 24.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $48.66 (1.22%) than the resistance at $49.95 (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Trump Media & Technology Group Corp. stock A Buy?
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.
Current score: -0.667 Hold/Accumulate Unchanged
Predicted Opening Price for Trump Media & Technology Group Corp. of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
$48.85 ( 0.83%) | $49.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DJT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 52.05 | 5.67 % | |
R2 | 50.83 | 3.19 % | ||
R1 | 50.08 | 1.66 % | ||
Current price: | 49.26 | |||
Support | S1 | 47.63 | -3.31 % | |
S2 | 46.88 | -4.84 % | ||
S3 | 45.65 | -7.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 57.99 | 17.72 % | |
R2 | 51.60 | 4.75 % | ||
R1 | 49.95 | 1.40 % | ||
Current price | 49.26 | |||
Support | S1 | 48.66 | -1.22% | |
S2 | 46.69 | -5.22% | ||
S3 | 45.13 | -8.38% |
FAQ
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