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 move. 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.
Leave A Comment