$TRUMP is currently showing signs of recovery, with short-term bullish momentum as it approaches the 25-day moving average. However, the price remains within a broader downtrend, and a confirmed breakout above $52.29 is essential for sustained upward movement. Traders should closely watch support and resistance levels while considering market volatility.
Trading Strategy:
1. For Buyers:
Consider entering long positions if the price breaks and sustains above $52.29.
Targets: $55.60 and $60.42 (key resistance levels).
Stop-loss: Below $46.55 to limit downside risk.
2. For Short Sellers:
Look for selling opportunities if the price fails to break above $42.29.
Targets: $36.55 and $32.98 (support levels).
Stop-loss: Above $31.60.
Support and Resistance Levels:
Immediate Support:
$46.55 (recent low where buyers showed interest).
$42.98 (stronger support from prior consolidation).
Resistance Levels:
$52.29 (current MA(25); a breakout could confirm further upside potential).
$55.60 (MA(99) and critical resistance level).
