The Trade Desk, Inc. engages in the provision of a technology platform for advertising buyers. It operates through the United States and International geographical segments. The firm’s products include audio advertising, mobile advertising, native advertising, data management platform, cross-device targeting, and inventory and marketplaces.
Take a look at the 6-month chart of Desk (NASDAQ: TTD) below with the added notations…
Chart of TTD provided by TradingView
During the past two months, TTD has formed a couple of important levels worth keeping an eye on. The first is the $50 mark (yellow), which has been both support and resistance for the stock on multiple occasions. The other level to watch is the $55 (blue) mark. If TTD can take out $50, like it tried to do yesterday, it should open the door to a run up to $55.
The Tale of the Tape: TTD has key levels at $50 and $55. A trader could enter a long position on a break above $50 and use $55 as the target price objective.
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.
No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
Christian Tharp, CMT
Do not trade options until you watch my urgent message: