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Donald Trump’s DJT stock soars 60% after assassination attempt
The post Donald Trump’s DJT stock soars 60% after assassination attempt appeared on BitcoinEthereumNews.com. After an assassination attempt on former President Donald Trump at his rally in Pennsylvania on July 13, election polls weren’t the only charts that were bringing gains to the former President. Trump’s social media, “Truth Social,” which trades under the ticker Trump Media & Technology Group (NASDAQ: DJT), experienced a 64.11% surge in the 24-hour trading, increasing from $30.89 to $50.67 in hours. DJT stock 24-hour price chart. Source: Google Finance The pre-market gains on the regular trading charts show a more modest advance, which amounts to 1.17% after the trading closed on July 12. Technical analysis of DJT stock Finbold analyzed technical indicators for Trump Media stock to determine whether these gains are sustainable and whether DJT shares carry this momentum into regular trading. The closest support level for DJT stock is identified at its latest closing price of $30.89. At the same time, resistance lies at $31.91, a level that the current momentum from the pre-market trading could easily surpass at the opening of trading on July 15. The moving average indicator for 50, 100, and 200-days flashes negative for the further progress of DJT stock, as it trades below all three averages ($41.71, $41.68, $31.91). Technical analysis of DJT stock. Source: TradingView As for the selling and buying volume, the Relative Strength Index (RSI) shows a level of 40.62, which moves downward compared to the previous 14 days. RSI indicator DJT stock. Source: TradingView However, if the current pre-market gains hold, the technical indicators will completely change the narrative, as most parameters will be outdated. DJT stock could experience the fate of meme stocks Truth Social’s market valuation seems disconnected from its financial performance, resembling the phenomenon seen with meme stocks. For long-term success, the platform may need to attract institutional investors focused on sustainable growth and…
The post Donald Trump’s DJT stock soars 60% after assassination attempt appeared on BitcoinEthereumNews.com.
After an assassination attempt on former President Donald Trump at his rally in Pennsylvania on July 13, election polls weren’t the only charts that were bringing gains to the former President. Trump’s social media, “Truth Social,” which trades under the ticker Trump Media & Technology Group (NASDAQ: DJT), experienced a 64.11% surge in the 24-hour trading, increasing from $30.89 to $50.67 in hours. DJT stock 24-hour price chart. Source: Google Finance The pre-market gains on the regular trading charts show a more modest advance, which amounts to 1.17% after the trading closed on July 12. Technical analysis of DJT stock Finbold analyzed technical indicators for Trump Media stock to determine whether these gains are sustainable and whether DJT shares carry this momentum into regular trading. The closest support level for DJT stock is identified at its latest closing price of $30.89. At the same time, resistance lies at $31.91, a level that the current momentum from the pre-market trading could easily surpass at the opening of trading on July 15. The moving average indicator for 50, 100, and 200-days flashes negative for the further progress of DJT stock, as it trades below all three averages ($41.71, $41.68, $31.91). Technical analysis of DJT stock. Source: TradingView As for the selling and buying volume, the Relative Strength Index (RSI) shows a level of 40.62, which moves downward compared to the previous 14 days. RSI indicator DJT stock. Source: TradingView However, if the current pre-market gains hold, the technical indicators will completely change the narrative, as most parameters will be outdated. DJT stock could experience the fate of meme stocks Truth Social’s market valuation seems disconnected from its financial performance, resembling the phenomenon seen with meme stocks. For long-term success, the platform may need to attract institutional investors focused on sustainable growth and…
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