Trump Media Stock Downturn and Death Cross Analysis

Trump Media has been through a drastic shift in its stock performance this year. After hitting a high of $66.61 in March, which was more than twice the value of $32.02 that the stock had at the beginning of January, DJT stock is now suffering a major downturn. As of August 14, the stock was trading at $23.98, up 37.42% on a year-to-date basis but down by a significant 40.91% over the past 30 days.

The stock has been performing especially poorly in the most recent trading sessions, with the DJT value having fallen by 3.62% on August 13. This downturn is said to have given rise to a ‘death cross’ on Trump’s chart, the point at which the short term moving average line crosses under the longer term moving average line. A death cross is a common signal of an impending bearish run and indicates that the stock may be set to spiral downwards even further.

Even so, DJT stock is approaching a key support level of about $21 to $23. This means that even if it continues on its downward spiral and plunges below this zone, it will probably not fall further than around $15, where it has previously experienced a lot of trouble moving above. Moreover, the fact that the short interest in the stock went up by nearly 60% from late June to late July appears to confirm the negative predictions about the stock.