Good technical signals and a possible breakout for TRADE DESK INC/THE -CLASS A.

TRADE DESK INC/THE -CLASS A (NASDAQ:TTD) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NASDAQ:TTD.

Technical Analysis Observations

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Overall TTD gets a technical rating of 9 out of 10. Both in the recent history as in the last year, TTD has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, TTD did better than 93% of all other stocks.
• TTD is part of the Media industry. There are 104 other stocks in this industry. TTD outperforms 95% of them.
• TTD is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so TTD is performing more or less in line with the market.
• In the last month TTD has a been trading in the 59.98 - 69.37 range, which is quite wide. It is currently trading near the high of this range.

How do we evaluate the setup for NASDAQ:TTD?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:TTD currently has a 8 as setup rating:

Besides having an excellent technical rating, TTD also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 64.26, a Stop Loss order could be placed below this zone.

How to trade NASDAQ:TTD?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NASDAQ:TTD and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout analyzer.