DWAC Begins Trading Under DJT

[Pelican Press 0]

DWAC Begins Trading Under DJT

As we might cover any new publicly traded stock, we wish to bring unbiased fundamental and technical analysis on Digital World Acquisition Corp (NASDAQ:) by tomorrow called DJT.

I cannot help but mention that the new symbol as former President Trump’s initials could be a boon or a mistake.

That though, ******** to be seen.

As for this SPAC now on the heels of becoming publicly traded, one must be aware that volatility, as we go deeper into the election year, is expected.

For example, last week when the announcement was made regarding a merger between Truth Social and Digital World, the stock sank nearly 14%.

Today, as the court ruled Trump has more time to pay the bonds over alleged “hush money”, the stock surged 37%.

The sole source of revenue for this company is from advertisers.

That means advertisers will be cognizant of the politics and rhetoric that is posted.

From comments that this stock is a total ****** given Trump’s business record to others that feel that META (NASDAQ:) is the worst place to post, hence they will post in DJT, be prepared for anything.

“Truth Social’s parent company will have a market value of approximately $5.5 billion when it starts trading. The valuation is pricey for a company that has racked up millions of dollars in losses since launching in 2021.”

Trump will own at least 55% of DJT, worth at least $3.3 billion at current valuations.

Nonetheless, almost like a meme stock, DJT will not trade based solely on fundamental value.

Trump, the largest shareholder, will have to wait 6 months according to the merger agreement.

What we do know is the Board is comprised of his allies and family, so that rule can change.

Looking at the charts, after Friday’s selloff and ******** of the 50-daily moving average, today the price handily cleared back over it.

The SPAC outperforms .

Momentum is just beginning to catch up to the surge in price.

On October 22, 201, the stock hit a high of $175.

The more recent high made on January 23, 2024, is $58.72.

The rally we see today, to sustain, look at $50 as pivotal as in bias bullish above that level and more negative below.

And remember, this stock is very much tied not only to Trump’s future but also his net worth as he needs to pay off legal debts. The higher the stock, the richer he gets.

This leads to public perception and leaves it open to constant controversy.

Perfect for an active trader who understands risk management.

ETF Summary

• S&P 500 (SPY) 520 pivotal
• Russell 2000 (IWM) 202 support
• Dow (DIA) 385 support 400 resistance
• Nasdaq (QQQ) 440 the pivotal area
• Regional banks (KRE) 45-50 range
• Semiconductors (SMH) 223 support near-term
• Transportation (IYT) 68 area support
• Biotechnology (IBB) 140-142 resistance 135 support
• Retail (XRT) 73 support 77 resistance
• iShares iBoxx Hi Yd Cor Bond ETF (HYG) 77 big number to hold. Over 78 risk ON

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[S&P 500, Digital World Acquisition Corp
#DWAC #Begins #Trading #DJT

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