DJT Stock's Volatile Year Marked by First Death Cross

Trump Media’s stock has had a rather eventful year. Overall, the price trajectory can be described as volatile. While the stock started the year quite successfully, soaring by over 100% from January to late February, when it reached its year high of over $66 in March, the surge was followed by a perhaps even steeper decline. As of August 14, the stock is worth only $23.98. From the beginning of the year, the stock has observed a 37.42% increase. However, over the last 30 days, it dropped by over 40.91%. The most recent few trading sessions were particularly disastrous, cumulating in the August 13 3.62% drop with the onslaught still continuing on the next day.

The decline resulted in the first death cross for the DJT stock. Specifically, the blue and the red moving averages crossed, and the former fell below the latter, marking the first time this bearish signal manifested in the stock’s history. However, while such a signal is indeed bearish, the DJT stock is still rather close to the upper threshold of a highly important support range between the $21 and the $23 areas. As such, as long as the stock does not decline below these thresholds, it will not be able to freefall toward the $15 levels that it tried and failed to break through in the past. The skepticism is further marked by a growing number of shorts, up by nearly 60% at the end of July relative to the end of June.