Chart of the Day: This Holding Is on the Cusp of a Breakout
The stock is flirting with a major move higher if some levels can just be exceeded.
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A nice surge higher in The Trade Desk TTD after earnings dropped this month has this stock poised for a run at all-time highs (circa $114).
The upward pressure in TTD stock following that big surge in August has short sellers on the run (pretty decent-sized short interest). Price action has really improved — see the movement from purple (bearish) up to blue (bullish) in the GoNoGo composite of indicators.
Parabolic stop and reverse (SAR) has been on a buy signal since earnings were released and that is bullish. The same-day MACD crossed for a bullish signal as well — these are two strong leading indicators of price action. Finally, money flow is very positive and has been building nicely. We like a strong bullish move in money flow as it tells us that big institutions are adding the name on a constant basis.
Looking for a move close above $103 (couple of times), then a nice breakout toward those old highs. We rate TTD a "one" in TheStreet Pro portfolio, buy at anytime.
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At the time of publication, TheStreet Pro Portfolio was long TTD.
