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One of the wildest stocks this year has been Trump Media and Tech (DJT - Free Report) . With a range that’s seen the stock go from the teens to the seventies, it’s pretty clear why. Since September, the stock has tripled, with Monday’s action adding 21.52% to $42.91. Volume has dried up a touch since Election Day. Back then, this monster was trading over 150 million shares. Monday’s move saw just 46 million.
A solid consolidation north of the 50 and 200-day moving average before this move. The stock spent the better part of a month coiling up over those key technical levels. This pop now has the RSI nearly overbought. Resistance to the upside includes the November high of $45.77 and October’s $54.68.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Trump Media’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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Trump Media and Tech Stock Surges Back to Life
One of the wildest stocks this year has been Trump Media and Tech (DJT - Free Report) . With a range that’s seen the stock go from the teens to the seventies, it’s pretty clear why. Since September, the stock has tripled, with Monday’s action adding 21.52% to $42.91. Volume has dried up a touch since Election Day. Back then, this monster was trading over 150 million shares. Monday’s move saw just 46 million.
A solid consolidation north of the 50 and 200-day moving average before this move. The stock spent the better part of a month coiling up over those key technical levels. This pop now has the RSI nearly overbought. Resistance to the upside includes the November high of $45.77 and October’s $54.68.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Trump Media’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.