DJT Stock Climbs: Golden Cross Points To Potential For Further Gains

Trump Media & Technology Group Corp DJT, parent company of Truth Social, just hit a technical milestone: a Golden Cross.

This happens when a stock's 50-day moving average crosses above its 200-day moving average, a classic signal of bullish momentum.

With shares up 10.64% over the past month, DJT is enjoying post-election optimism fueled by market speculation and recent developments.

Read Also: DJT Stock Eyes Golden Cross As Truth+ Expands Its Reach

Golden Cross Sets The Stage For DJT Stock

DJT stock, at $34.71, is flexing its technical muscles. The 50-day simple moving average (SMA) at $33.64 has officially overtaken the 200-day SMA at $33.42, creating the bullish Golden Cross. Complementing this, the MACD indicator sits at 1.15, signaling bullishness

Other indicators reinforce the bullish narrative. The 20-day SMA at $34.42 suggests short-term strength, while a Relative Strength Index of 52.02 keeps the stock comfortably out of overbought territory.

Despite an eight-day SMA signaling a slight dip, the long-term trends suggest DJT could be primed for further gains.

Trump Trust Transfer: Ethical Theater Or Genuine Move?

Adding fuel to the stock's momentum is President-elect Donald Trump's decision to transfer his nearly $4 billion stake in Trump Media to a revocable trust. This move has drawn mixed reactions. Critics argue it falls short of meaningful ethical reform, with Jordan Libowitz, Vice President of Communications for Citizens for Responsibility and Ethics in Washington, describing it as "a superficial gesture toward ethics without making a genuine ethical move."

Trump supporters, however, highlight his history of stepping back from business interests for public service. "He removed himself from his multi-billion-dollar empire to run for office and forewent his government salary," said Karoline Leavitt, spokesperson for the Trump-Vance transition team.

Election Hype Fuels DJT Stock

Traders view DJT as a speculative proxy for Trump's potential influence in the White House. Following his November victory, DJT stock has gained over 10% in the past month, reflecting bullish sentiment.

Whether the Golden Cross indicates lasting growth or election-driven hype, one thing is certain: DJT remains a focal point in the market.

Read Next:

• DJT Stock Plummets Over 5% Following Trump’s Stake Transfer: Here’s More

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