mid-cap

One NASDAQ-Listed Investment Holding Stock at Resistance Level: Trump Media & Technology Group Corporation

Jul 15, 2024 | Team Kalkine

Read Time :5 min

One NASDAQ-Listed Investment Holding Stock at Resistance Level: Trump Media & Technology Group Corporation

DJT:NASDAQ

Investment Type

Small-Cap

Risk Level

Action

Rec. Price (US$)

Trump Media & Technology Group Corporation

Company Overview: Trump Media & Technology Group Corp. (NASDAQ: DJT) is a social media and technology-focused company. The Company’s social media platform, TruthSocial, provides an outlet outside of Big Tech that encourages open global conversation without discriminating against political ideology. The Company is also focused on developing a subscription-based video streaming service, TMTG+, which intends to include access to non-woke entertainment, news, documentaries, podcasts and more.

As per our previous US Daily report published on ‘DJT’ on 28^thJune 2024, Kalkine provided an ‘Speculative Buy’ stance on the stock at USD 36.73 based on “price action, recent key business and financial updates, and momentum in the stock over the last month” and the stock price has now moved by ~25.45% since then and has attained resistance 1 and resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

DJT’s Daily Chart

Considering the current trading levels, resistance 1 and resistance 2 attainment, RSI nearing overbought levels, risks associated, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the “DJT” at the current market price of USD 46.08 (as of 15 July 2024, at 06:31 am PDT).

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is July 15, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

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