12th September 2024 – Donald Trump’s listed media group (Trump Media & Technology Group) continues to exhibit an aggressive negative medium-term trend reports Trend Intelligence, as its stock price closed down 10% in yesterday’s trading having fallen some 80% from its high in March 2024.
Trend’s Analysis (click chart to expand): Trend’s R* Momentum Indicator creates a clear visual representation of price trends in play across asset classes and financial instruments. In our DJT chart, Trend Intelligence reports negative trending R* and R* Signal lines, with both indicators operating below the critical zero line. This is, and has shown over time to be, a negative trend signal.
In addition to the R* indicator, price currently trades well below 2 of Trend’s moving averages and below our Japanese Cloud indicator, which is shaded pink.
The combination of all signals corroborates Trend’s negative medium-term trend rating on DJT with the price looking negative for the future weeks and months ahead.
Downside Sentiment: Donald Trump is widely believed to have lost his recent leadership debate with Kamala Harris, where he asserted that some US immigrants eat pets. In it’s most recent quarter DJT made only 800K in revenue, and it’s Christian and conservative content does not appeal to all of Americans, reports the Financial Times.
Upside Sentiment: Trump’s Truth Social operates without any limitations and with no banning of accounts which strongly appeal to his fans. Should he win the election in 2024 his group could become more attractive to investors. His closeness to Elon Musk who owns X, could also prove to be beneficial for the group.
Authored by: Trend Intelligence, London
