TeraWulf Shares Are Surging Tuesday: Analyzing The Digital Infrastructure Stock

Shares of TeraWulf (NASDAQ:WULF) are rising Tuesday. The company announced a proposed offering of senior secured notes.

• WULF stock is challenging resistance. Check the analyst take here.

What To Know: TeraWulf said on Tuesday that it intends to offer $3.2 billion of secured senior notes due 2030 in a private offering to institutional buyers. The digital infrastructure company plans to use the funds to finance an ongoing data center expansion in New York.

TeraWulf had approximately $90 million of total cash, cash equivalents and Bitcoin as of June 30.

TeraWulf stock was up around 10% at last check, according to Benzinga Pro. The stock is now up approximately 42% over the past month.

WULF Analysis: TeraWulf stock is trading near its 52-week high of $15.60, reflecting strong bullish momentum that has propelled the stock price significantly higher over the past year. With a year-to-date gain of 184.7%, TeraWulf has seen its market cap grow to $5.54 billion.

From a technical perspective, the stock is currently trading well above both its 50-day moving average of $9.70 and its 200-day moving average of $5.54, indicating robust upward momentum. The current price is approximately 60.2% above the 50-day moving average and an impressive 180.3% above the 200-day moving average, showcasing a strong bullish trend. However, the Relative Strength Index (RSI) at 81.44 signals that the stock is in overbought territory, suggesting that a pullback could be imminent as the market may be due for a correction.

With the absence of established support levels, the 50-day moving average may serve as a critical support point should the price experience a downturn. On the resistance side, the 52-week high of $15.60 stands as a psychological barrier that could challenge further upward movement. Traders should be cautious as the stock approaches this level, which may trigger profit-taking or increased volatility.

WULF Price Action: TeraWulf shares were up 11.29% at $15.59 during regular trading hours on Tuesday, according to Benzinga Pro.

Read Next: 

• Fastenal, Safe Pro Group And 3 Stocks To Watch Heading Into Monday

Image: Shutterstock