Is DJT on support now?

**Trump Media & Technology Group Corp. (DJT) is currently experiencing a support level.** 1. **Support Level Identification**: The support level for DJT is $30.37, as indicated by the closing price of $30.62 on July 24, 2024. This is below the resistance level of $32.34, suggesting a potential downward pressure on the stock price. |Ticker|Name|Closing Price|Date|code|market_code| |---|---|---|---|---|---| |DJT.O|Trump Media|30.62|20240724|DJT|185| 2. **Technical Indicators and Analysis**: - The Moving Average Convergence Divergence (MACD) indicator is -0.84, suggesting a sell signal. This could contribute to further downward pressure on the stock price. - The Relative Strength Index (RSI) is 45.52, indicating a neutral sentiment. This suggests that the stock is not overbought or oversold, which could lead to a period of consolidation before a potential breakout. - The stock has experienced a recent decline, with a fall of -6.96% on July 24, 2024. This could indicate a bearish sentiment among investors, potentially leading to further selling pressure. |Ticker|Name|Resistance Level|Date|code|market_code| |---|---|---|---|---|---| |DJT.O|Trump Media|32.3399|20240724|DJT|185| |Ticker|Name|RSI|Date|code|market_code| |---|---|---|---|---|---| |DJT.O|Trump Media|34.2721|20240724|DJT|185| 3. **Market Sentiment and Predictions**: The overall sentiment around DJT is bearish, with predictions of a further fall of -35.90% over the next 3 months. This suggests that the support level may face significant downward pressure from market participants. 4. **Short Interest**: The short interest in DJT has increased, indicating a negative sentiment among short sellers. This could contribute to downward pressure on the stock price as these positions are covered. |Ticker|Name|Interest Expenses on Short-term Debt|Date|code|market_code| |---|---|---|---|---|---| |DJT.O|Trump Media||2022 Q2|DJT|185| |DJT.O|Trump Media||2022 Q3|DJT|185| |DJT.O|Trump Media|0|2022 Q4|DJT|185| |DJT.O|Trump Media||2023 Q1|DJT|185| |DJT.O|Trump Media||2023 Q2|DJT|185| |DJT.O|Trump Media||2023 Q3|DJT|185| |DJT.O|Trump Media|0|2023 Q4|DJT|185| |DJT.O|Trump Media||2024 Q1|DJT|185| In conclusion, DJT is currently trading at a support level, with technical indicators and market sentiment suggesting a bearish outlook. Investors should monitor the stock closely for potential selling opportunities or consider hedging their positions to mitigate downside risk.