The Trump Media & Technology Group fell nearly 8% today, closing at $9.16, having broken below the recent support level of $9.50. Trading volume increased, with bears in control. The RSI is approaching the oversold zone, and the MACD remains below the zero line, with no signal of a bullish reversal.
Key price levels: $9.00 is the current stop-loss line; a break below that would target $8.00. If looking to go long, one needs to wait for confirmation of stabilization above $9.50, with a target of $11.50, offering a risk-reward ratio of about 1:2.
If $9.00 fails to hold, continue to wait on the sidelines; only consider a move if the price returns above $9.50 with volume.
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