Trump Media & Technology Group Corp (NASDAQ:DJT) shares are surging on Wednesday following President Donald Trump's announcement of a two-week conditional ceasefire with Iran.

The geopolitical breakthrough triggered a massive relief rally, with the Dow Jones Industrial Average climbing 2.78% by mid-morning. The Nasdaq Composite gained 2.92% while the S&P 500 rose 2.26%.

Ceasefire Details Spark Market Optimism

The rally follows a Truth Social post where Trump agreed to suspend military action. "I agree to suspend the bombing and attack of Iran for a period of two weeks," Trump stated, citing requests from Pakistani leadership.

The deal is contingent on Iran opening the Strait of Hormuz, a critical artery for 20% of global seaborne oil.

Oil Prices Crash on De-escalation

Crude markets reacted sharply to the news. West Texas Intermediate futures, tracked by the United States Oil Fund (NYSE:USO), plunged 17% to $93 a barrel.

Traders are aggressively unwinding positions that previously hedged against prolonged disruptions in the Strait.

Technical Analysis

At $9.61, DJT is trading 2.8% above its 20-day simple moving average (SMA). At the same time, it's trading 17.4% below its 100-day SMA.

The moving average convergence divergence (MACD), a trend/momentum measure, is at -0.4148 versus a signal line of -0.5371.

Over the last 12 months, the stock is down 42.80%, a backward-looking read that matches the stock's position near the low end of its $8.30 to $27.78 52-week range.

  • Key Resistance: $10.50
  • Key Support: $8.50

DJT Stock Price Activity: DJT shares were up 4.35% at $9.60 at the time of publication on Wednesday, according to Benzinga Pro data.

Photo courtesy: Shutterstock