Technology company Trade Desk (TTD) specializes in "real-time programmatic marketing automation technologies designed to personalize digital content delivery to users." Above my paygrade so let's check out the charts and indicators. In my last review of TTD on Nov. 9 and wrote that "Markets are forward looking and whatever traders are focused on, it must be bearish. Avoid the long side of TTD as further declines are anticipated."
In this daily bar chart of TTD, below, we can see that prices have rebounded since our last review. Prices are trying to close above the declining 50-day moving average line but remain below the bearish 200-day moving average. The trading volume has dried up from the November low so I wonder out loud whether the rally can continue.
The On-Balance-Volume (OBV) line is still pointed down and the Moving Average Convergence Divergence (MACD) oscillator has improved but is still below the zero- line.
In this weekly Japanese candlestick chart of TTD, below, we can see a mixed picture. Prices show an impressive and bullish lower shadow at $40. Prices are still below the declining 40-week moving average line. The weekly OBV line has been in a very long term sideways pattern. The MACD oscillator is bearish.
In this daily Point and Figure chart of TTD, below, we can see a bearish price target in the $34 area.
Bottom line strategy: Despite my last review in which I anticipated further price weakness and prices subsequently rebounded, I would still avoid the long side of TTD.
