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Personal Finance and Investing

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Bernardo de La Paz

(49,335 posts)
Thu Apr 18, 2024, 11:46 AM Apr 18

DJT Bull Trap? [View all]

The recent surge of DJT comes after the announcement of a phased rollout of a new streaming service they have developed and will begin scaling up. It seems to me the surge might be a bull trap. Many amateurs and cult members are over-awed by tRump and think he is a genius so they have invested in the company run by the incompetent inexperienced Devin Nunes ( {un}Truth Social).

I think the long term prospects of DJT are dismal, so the surge seems like an emotional reaction. There is support at 35, 40, and 50 dollars, but coming up from the underside, support levels can become resistance levels. $50 would be about a 60% retracement.

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