The Trade Desk (TTD) was reviewed back on January 21 and we wrote that "TTD is likely to trade to still higher highs in 2021 but over the next several weeks I still see a risk of lower lows and maybe a retest of the $600 area." TTD bounced in February but began to weaken again in recent days. Let's pay another visit to the charts.
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These recently downgraded names are displaying both quantitative and technical deterioration.
The big question now is whether the selling over the new variant was severe enough to produce some bounce action next week?
My view is to eat some leftovers, let the rest of the day play out, and come in fresh on Monday.
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