Shares of Trump Media & Technology Group Corp (NASDAQ:DJT) have fallen by 11.36% since the U.S. presidential elections. Technical analysis using simple moving averages suggests that the stock price is neither increasing nor decreasing but oscillating within a defined range.
Stock Movement
After the shares zoomed post-election it has now fallen below the pre-election level. The Donald Trump-owned company shares are down 39% in the last six months and 36% in the last month.
However, it has outperformed the Nasdaq Composite and Nasdaq 100 and has risen by 74.44% year-to-date, whereas the two indices rose by 29% and 25% respectively, in the same period.
As of Wednesday’s close, the shares were down 0.23% at $30.44 apiece, which fell further by 0.06% to $30.42 per share during the after-hours. The share price remains 161% below its 52-week high of $79.44 apiece and 35% above its 52-week low of $22.55 per share.
Technical Analysis
From a technical perspective, the analysis of daily moving averages indicates a potential period of consolidation.
According to Benzinga pro data, Wednesday's after-hour price of $30.42 per share is just below its 200-day simple moving average of $30.45 apiece. On the other hand, the share price is just slightly above its 20-day simple moving average of $30.38 per share. The stock’s eight and 50-day averages are the same at $30.39 apiece, signaling indecisiveness.
The relative strength index at 55.56 level also indicates a neutral stance, representing neither overbought nor oversold conditions.
DJT Options Activity
Benzinga’s analysis of options history for Trump Media revealed 17 unusual trades. Out of all the trades spotted, seven were puts, with a value of $836,390, and 10 were calls, valued at $601,794.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $100.0 for Trump Media & Technology over the recent three months.
Trump holds a 57% stake in Trump Media & Technology Group. Trump Media operates a social media firm Truth Social. The company, via its social media platform, appears to be wading into the crypto payments business as it filed a trademark application with the U.S. Patent and Trademark Office for the name "TRUTHFI."
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Image via Wikimedia Commons
