The Trade Desk, Inc. (NASDAQ: TTD)

The Trade Desk, Inc. offers a technology platform for advertising buyers. It operates through United States and International geographical segments. The firm’s products include audio advertising, mobile advertising, native advertising, data management platform, cross-device targeting, and inventory and marketplaces.

Take a look at the 1-year chart of Trade (NASDAQ: TTD) below with my added notations:

TTD has hit the $210 mark (red) multiple times as both resistance and support over the past several weeks. The stock has recently tested that level again, and now could be looking to finally break higher. A solid close above $210 should lead to higher prices for TTD.

The Tale of the Tape: TTD has a key level of resistance at $210. A long trade could be entered on a hold above that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $210.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade.  Capital preservation is always key!

Good luck!

Christian Tharp, CMT