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Digital World Acquisition Corp (NASDAQ: DWAC) Is Down -3.64% – Is It Ready For A Rally?

Digital World Acquisition Corp (NASDAQ:DWAC) price closed lower on Monday, February 12, dropping -3.64% below its previous close.

A look at the daily price movement shows that the last close reads $47.03. The company’s 5Y monthly beta was ticking 6.56. Taking into account the 52-week price action we note that the stock hit a 52-week high of $58.72 and 52-week low of $12.34. The stock added 167.85% on its value in the past month.

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Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give DWAC a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.

The overview shows that DWAC’s price is at present 20.45% off the SMA20 and 77.53% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 65.51, with weekly volatility standing at 10.11%. The indicator jumps to 19.47% when calculated based on the past 30 days. Digital World Acquisition Corp (NASDAQ:DWAC)’s beta value is holding at 6.49, while the average true range (ATR) indicator is currently reading 4.85.

An analysis of the Digital World Acquisition Corp (NASDAQ:DWAC) stock in terms of its daily trading volume indicates that the 3-month average is 0.52. However, this figure increases on the past 10-day timeline to an average of 3.15 million.

Current records show that the company has 30.02M in outstanding shares. The insiders’ percentage holdings are 22.37% of outstanding shares while the percentage share held by institutions stands at 3.73%. But the 158.97% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.