Chart of the Day: Troubles for This Bullpen Name Are Far From Over
We continue to watch this stock from the sidelines.
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We'll get earnings tonight from Pro Portfolio Bullpen name The Trade Desk (TTD) as we continue watching this name (which may soon be removed).
The stock has huge gaps in the chart after the company disappointed with earnings last quarter. We do not expect to hear anything different from TTD this time around, maybe slight improvement, but the stock has formidable resistance at higher levels.
The moving average convergence divergence (MACD) is on a sell signal again, on-balance volume is pointing lower and the Relative Strength Index (RSI) is ugly, with lower highs, lower lows in this indicator.
The price chart is also bearish, as the stock is in a sideways consolidation at the lower end of the range.
There's tough resistance at the $55 level that if challenged, will open the flood gates to more selling, and then right down it goes again. Anything can happen with earnings of course, but the odds are not favorable.
We'll continue to watch this name from the sidelines, as we do not have a position in TTD in TheStreet Pro Portfolio.
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At the time of publication, TheStreet Pro Portfolio was long TTD.
