chuckination

The Trade Desk: Double-Bottom Resuming Long-Term Uptrend

Long
NASDAQ:TTD   THE TRADE DESK INC
I've been watching TTD for a few months, and they're a good growth company that offers an alternative to the mainstream large cap internet advertising firms tied to search engines and social networks, and the earnings have been looking good. They've been consolidating in the short term with the rest of the market, but it looks like they're resuming a long term uptrend now that the overall market outlook has opened up.

The last two earnings calls have been good, but the prevailing market conditions have been more ideal for defensive stocks than growth, but I sense that beginning to change. TTD is forming a classic cup with handle double bottom pattern from the May and Sept/Oct lows of 2019, but should rocket right back into an uptrend anytime now from sound fundamentals. The recent earnings call has been in, and the price is now looking like it will close over all short and long term averages. The 10, 20, and 200 days averages have all been hovering around each other recently, but the short term averages are breaking back out. The 63 day moving average has remaining firmly above the 200 day, so this does appear to be a short term consolidation on the price necessary to create the buying pressure needed for larger all time highs. Volume and accumulation are picking up, so it's not too late before the big fish get their orders in.

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