The past few months have created a nice setup for tech stock The Trade Desk (TTD). Since breaking out post-earnings in May, the name has been consolidating and showing great consistency. Consolidation typically results in a bold moves. Traders grab onto shares, and a breakout occurs on higher volume. For TTD, this happened Monday. Money flow has turned positive as well, and the MACD has solidified its bull signal.
We could see this stock move along the path of the yellow dotted line. It may rise, pull back to test the support line and then move up and out to new highs. This is a very strong stock that can be bought on a pullback.
The Trade Desk (NYSE: TTD) Video Chart Analysis
Take a deeper dive into the chart action on tech stock The Trade Desk NYSE: TTD and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
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About The Trade Desk
The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA.
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