Chart of Day: Trump Media & Technology Group (DJT) – 10/13

Keep an eye on Trump Media & Technology (SYM: DJT).

Let me first say this. Whether you love Trump or hate him, it really doesn’t matter. We’re simply looking at DJT’s rally as an interesting trading opportunity. 

Since the end of September, the stock raced from about $11.75 to a recent high of $24.12.  While it is overbought, there’s substantial momentum behind the stock. And we could see the stock rally into the November election, with investors betting on a Trump win.

djt

In fact, as noted by CNBC, “Analysts have described Trump Media as a meme stock that is being bought and sold in large part by fans of Trump, who view investing in the company as a way to support the Republican presidential nominee and wager on his odds of winning.”

The DJT stock is also making big moves following an announcement that the company’s Truth+ streaming video application has launched.

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