Trump Media and Tech’s stock has surged significantly, tripling since September and showing strong trading activity.
New York: So, have you heard about Trump Media and Tech? This stock has been on quite the rollercoaster ride this year. It started in the teens and shot up to the seventies. Crazy, right? Since September, it’s tripled in value, and just recently, it jumped 21.52% to hit $42.91. But here’s the thing: trading volume has dipped a bit since Election Day. Back then, it was flying with over 150 million shares traded, but now it’s down to about 46 million.
Before this latest surge, the stock was hanging out above the 50 and 200-day moving averages, which is a good sign. It spent a good chunk of time coiling up over those levels, and now it’s almost overbought. The next hurdles to watch are the November high of $45.77 and October’s $54.68.
Dave Bartosiak, a pro in technical analysis, dives into the stock’s moving averages. He talks about how crossovers and divergences can hint at trend changes. He also points out key support and resistance levels, which are crucial for traders to know when to buy or sell.
He mentions chart patterns like head and shoulders or cup and handle, which can help predict where the stock might go next. Plus, he stresses the importance of volume analysis. If there’s a spike in trading volume during a price move, it can really confirm that something significant is happening.
Bartosiak’s insights give us a better understanding of Trump Media’s stock. By keeping an eye on those moving averages, support and resistance levels, and volume, investors can make smarter choices. Just remember, while technical analysis is super helpful, it’s also wise to consider other factors like market sentiment before diving in.
