DWAC Stock Forecast: DWAC Closes Lower on Friday but OUTPERFORMS NASDAQ

DWAC Stock Forecast: DWAC Closes Lower on Friday but OUTPERFORMS NASDAQ
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DWAC Stock Forecast for the next 24 hours is between $ 30.0 and $ 47.0. Overall Recommendation for the next 24 hours is Sell.

None of the 3 Momentum Indicators are Positive

2 analysts

DWAC Stock Forecast: Latest Price

DWAC closed 0.12% lower at $ 43.10 in the last trading session

Share Volume: 2.2 Million (Down nearly 2 million)

Market Cap: 1.6 Billion

DWAC Stock Forecast: DWAC Closes Lower on Friday but OUTPERFORMS NASDAQ

DWAC has trended lower over the last few weeks. However, it appears to have found a (temporary) support level at the moment.

Screenshot 2021 11 29 at 5.52.07 PM

DWAC Stock Forecast: Momentum Summary

Metric
Momentum
Price
Lower
Technical Indicator
Sell
Social Media Buzz Momentum
Negative and Deteriorating

Net Sentiment for DWAC in the last 1 week: 11% positive, 38% negative, Net = (-27%), Improving

Net Sentiment for DWAC in the last 24 hours: 14% positive, 48% negative, Net = (-34%), Deteriorating

DWAC Performance Chart

Stock Name
1 Day
5 Day
1 Month
1 Year
-0.12%
-23.31%
-36.38%
+333.17%

DWAC Stock Forecast: Technical Analysis

Source
Support
Resistance
Recommendation
$ 31.6 (S3)
$ 46.4 (R1)
Sell
$ 28.4 (S3)
$ 47.5 (R1)

DWAC STOCK! – HAVE WE FOUND THE BOTTOM NOW OR ARE WE EXPECTED TO DROP LOWER? – MY THOUGHTS!

DWAC Stock Forecast: Latest News and Crowd’s Tweets

Keep a Close Watch on Digital World Acquisition for a Return to $20

Originally tweeted by Donald $DWAC (@Wega25636689) on November 29, 2021.

If this momentum keeps up we could be looking at easily 45 to 50 million worldwide signups in the first few weeks of an official launch. Do not trust a single thing MSM tells you. I’ll be buying the dips today. $DWAC

FFXHTzIVQAAYcQP

Originally tweeted by 🥶 Blue Collar Dollar 🏴‍☠️ (@bigRpoolthanYe) on November 29, 2021.

$DWAC in a downtrend. needs to reclaim $45 near term. most of the loading was done around $55-60. Would like to get some around $25 if that happens, but if you want in now I would set a stop loss at $38

DWAC Stock Forecast: Latest Crowd and other YouTube Videos

TRUMP STOCKS GAINING BACK SOME MOMENTUM! BIG DAYS FOR DWAC BENE MARK AND PHUN STOCK

DWAC Stock Forecast: Background

DWAC is a blank cheque company tied to Trump Media and Technology group (TMTG) and is all set to take former president’s media group public. SPAC (Special purpose acquisition company) is becoming more popular than traditional IPOs for another consecutive year.

DWAC stock skyrocketed after news of its merger with TMTG. However, million-dollar question is what’s next. Will it rise further or is it just another GameStop?

Digital World Acquisition Corp, shares closed at $72.76 on Friday after trading as high as $175 last week. Trading Volume has decreased significantly over the last few days and it is likely to remain down only in the coming weeks till another news flow decides the direction of the stock

DWAC Stock Forecast: Target Price for 2021

The stock is trending on several platforms over the past few days. But current stock price implies valuation of TMTG in billions of dollars which is several times the announced valuation of $875. Some suggests that high speculations are going on in DWAC and it is a balloon which will burst in near future.

There is some similarity between DWAC and CCIV. We knew very little about Lucid Motors when merger was rumored and in case of DWAC –TMTG merger, we know only absolute valuation.

According to TMTG, company will be valued at $875 million initially and will earn out $825 million in additional shares. That will make the cumulative valuation of up to $1.7 billion depending on performance of stock post business combination.

In the coming months, SPAC will have to submit details about merger and submit regulatory filing with the Securities and Exchange Commission. Information related to financials and ownership structure will be revealed and that will decide the future course of company.

If merger is approved, Trump Media and Technology group will trade under the name of DWAC and will replace it in Stock Market.

DWAC Stock Forecast: Why is DWAC stock becoming so popular?

Mr. Trump is planning to launch platform “Truth Social” which is expected to be like Twitter. The prices of warrants which gives investors right to buy shares at later date and at fixed prices have also soared.

DWAC has been trending on various platforms for past couple of days. Short term and intraday traders have posted photos of their huge profits and inspired others to catch the running train. Analysts say that there is vast majority of people buying stock just to support Trump and his political movement.

DWAC Stock Forecast: Future Outlook

DWAC has behaved just another hot meme stock. Meme stocks are popular among online traders for all reasons except their business prospects. Other SPAC that went this much higher in the past have fallen significantly and wiped retail investors money in the downtrend.

In the past week, the stock has seen all kind of movement – touching as high as $175 and then the downtrend started which was inevitable after Trump’s tweet acknowledging the difficulties in building such platform “Truth Social” and it would take time and support from all the stakeholders and US citizens to make his dream true.

Also there are news reports that say that Trump SPAC deal has violated various securities law. This news has waned the enthusiasm of traders and investors.

Vineet Agarwal

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Check out our US Stocks and Crypto Trading Predictions

DWAC Price Prediction: DWAC crashes by nearly 11%

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