U.S stock futures moving flat after yesterday’s bullish close

The stock market situation at the end of the week looks sideways after it scored a strong bullish close yesterday. If the stock market could maintain the bullish pressure until the end of the week then the bullish trend could continue next week. If the stock market continues trading lower then traders could use it as a chance to add long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

The DJIA index turned upward yesterday after trading below the daily SMA 100 for a few days. The index will attempt to extend the bullish movement and target the previous record high. On the lower side, there is a support trendline and 38,000 handles to watch. As long as there is no lower swing low or a close below the trendline, the bullish trend could continue.

Trump Media & Technology Group (DJT)

DJT share prices trading lower consecutively but the rate of decline might have decreased. At the current level, traders could speculate entering long positions with a stop below the previous swing low. If the share prices could bounce upward with strong bullish momentum then the trend will turn bullish. Also, it provides traders with an appealing risk-reward ratio. On the upside, the daily SMA 200 could become the first target to watch.