The Trade Desk Is Not Showing Us 'the Money' Just Yet
The stock is in a mild downtrend but that could change after earnings are released.
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In typical fashion a high-charged tech stock like The Trade Desk TTD is not showing anything to traders/investors in terms of trend before earnings are released after the close on February 12. The candles are showing a bearish bias in TTD: They are pink/purple, which reflects bearish on the GoNoGo composite of indicators. Yet, we do see encouraging signs from the supporting indicators, although let's remember the price action matters most and will dictate the current condition of the stock and the likely path.
Money flow is flat and not falling at the moment, while MACD (moving average convergence/divergence) has just turned higher for a confirmed buy signal. That coupled with strength in the stochastics (pane 4) has me encouraged that this stock will turn it around in short order. However, it may take some time for TTD to consolidate at current levels to make sure the sellers are out of the stock.
If TTD's earnings are taken well there is some good upside potential. Targets at the old highs around $138 are certainly achievable.
Volume has been rising but has not been all that bullish. In fact, on several of the down sessions volume has been elevated. We like to see strong turnover on days when the stock rises, so that could be an issue.
We like The Trade Desk in TheStreet Pro Portfolio and rate it a One, or "buy at anytime."
At the time of publication, TheStreet Pro Portfolio was long TTD.
