$TRUMP
🚨 TRUMP Technical Analysis — Bear Pennant Risks 15-20% Decline 🚨
The chart reveals a classic bear pennant formation, a continuation pattern that typically signals further downside after a sharp decline. TRUMP experienced a steep drop between April 29 and May 2, followed by a consolidation phase forming the pennant.
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On May 6, the price broke below the pennant’s lower trendline, confirming the bearish setup. The target for this pattern can be projected by measuring the initial drop and extending it downward from the breakout point, suggesting a potential decline to as low as $9.
Additionally, the Relative Strength Index (RSI) on the 4-hour chart is at 31.50, nearing oversold territory but still showing bearish momentum with no immediate signs of reversal.
The Exponential Moving Averages (EMAs) further support this outlook: the 50-period EMA ($12.05) and 200-period EMA ($11.28) are both well above current prices, acting as strong resistance levels and confirming the downtrend.