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TRADE DESK INC/THE -CLASS A is setting up nicely for a breakout.

By Mill Chart

Last update: May 26, 2023

Our stock screener has spotted TRADE DESK INC/THE -CLASS A (NASDAQ:TTD) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NASDAQ:TTD.

TTD Daily chart on 2023-05-26

Zooming in on the technicals.

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.

We assign a technical rating of 9 out of 10 to TTD. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, TTD is showing a nice and steady performance.

  • The long and short term trends are both positive. This is looking good!
  • 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 94% 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 60.56 - 69.37 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

How does the Setup look 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:

TTD has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 66.82. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 64.68, a Stop Loss order could be placed below this zone.

How can NASDAQ:TTD be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this 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.



NASDAQ:TTD (5/25/2023, 7:13:46 PM)

After market: 66.24 -0.02 (-0.03%)


-0.04 (-0.06%)

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