With Trump Elected, Should You Buy Trump Media Stock?

We live in a strange world, with algos driving the action behind stocks. Somehow, the Trump Media and Technology Group (DJT Quick QuoteDJT - Free Report) has become the lightning rod for the odds of another Trump Presidency. On days where he gained in the polls, the stock would gain in the market. It’s like we are staring at a meme coin in the form of a US equity traded on the NASDAQ. Wild stuff.

The stock surged off lows under $13 into late September. Shares ticked all the way up to $51.51 last week. On Election Day, the stock closed down 1.16% on the session, although it gapped up to $37.52 at the open and reached a high of $40.74 before spending the afternoon trending lower. In the after-hours session, DJT dipped to $31 before shooting up over $42 late in evening. This is certainly a stock to keep an eye on to talk about at the water cooler, but it’s not the sort of thing you should be dumping your retirement money into.

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 and Technology’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.