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.
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.
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.
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.
TRADE DESK INC/THE -CLASS A
NASDAQ:TTD (5/25/2023, 7:13:46 PM)After market: 66.24 -0.02 (-0.03%)
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