DJT's tremendous buying volume today pushed the stock price to $32.17 (+18.43%). A golden cross formed on the hourly chart on October 8th, and if DJT keeps its bullish momentum, a golden cross will likely form on the 4-hour chart in the next few days. The weekly chart shows that October holds the strongest buying volume for the year. This should help DJT play at a higher value.
Fundamental Analysis—The surge is likely due to interest and support for Trump's upcoming presidency. This is what happened in March 2024. DJT's value rose due to the loyal base of Trump supporters. Analysts labeled DJT as a meme stock, trading more on social media buzz than traditional financial metrics. Knowing these fundamental analytics, I believe DJT will find great value and performance depending on a Trump victory.
Fundamental Analysis—The surge is likely due to interest and support for Trump's upcoming presidency. This is what happened in March 2024. DJT's value rose due to the loyal base of Trump supporters. Analysts labeled DJT as a meme stock, trading more on social media buzz than traditional financial metrics. Knowing these fundamental analytics, I believe DJT will find great value and performance depending on a Trump victory.
Note
Presidential rallies and social media buzz likely helped DJT rise to key resistance levels. New price discovery to new highs and lows will test resistance at $39.20. The RSI shows that DJT is overbought and will likely see a retrace and bounce to the upside. A Trump presidential victory would make DJT bullish and soar to new levels to the upside. Trade active
Fundamental analysis: Executives at Trump Media & Tech sold shares, which is likely why the stock price has retraced. Technical analysis - The RSI shows that DJT has been oversold. I'm hoping for a bounce in price to the mid-high $30 range. I'm expecting a price discovery and consolidation in the coming weeks.
Trade closed: target reached
DJT is having difficulty breaking through the resistance level, leading to an increase in potential short positions. Reportedly, long-term trades are showing a sell signal. If I observe DJT moving sideways, I'll consider trading both short and long until potential partnerships and acquisitions are finalized. Mind you, as long as Trump is in office, I'm still Bullish on DJT.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.