DJT - Range bound for now
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DJT has had some wild swings lately. Impressively DJT pushed deep into overbought territory on the longer duration weekly timeframe. The company is sitting on under 400K of cash and carries a debt load of nearly 6.8M!
From a technical standpoint how can we take a view of where the price might go next? With all the noise the monthly timeframe is where I think we start to get a clear view for now. It looks like price could be settling into a range, momentum cooling for a while.
Folks thinking about shorting the company may want to wait until the price gets back towards the top of the range, and consult the momentum when that happens. Otherwise, I'd be patient and let this thing settle into something recognizable.
From a technical standpoint how can we take a view of where the price might go next? With all the noise the monthly timeframe is where I think we start to get a clear view for now. It looks like price could be settling into a range, momentum cooling for a while.
Folks thinking about shorting the company may want to wait until the price gets back towards the top of the range, and consult the momentum when that happens. Otherwise, I'd be patient and let this thing settle into something recognizable.
Note
Here's a link to the financials referenced in the initial idea with the paltry DJT cash positiontradingview.com/symbols/NASDAQ-DJT/financials-overview/
As of today (according to Tradingview)
Cash & Equivalents: 495.01K
Debt: 6.78M
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