TTD has been in a free fall, and it is currently the most oversold it has ever been. Nothing ever comes close.One thing to note is that it tends to check back to $41 to $38 range after prolonged sell-offs like this. That support level has not been broken since 2021.
Judging by the extreme oversold levels in the MACD and RSI, it might be close to seller exhaustion. However, I would wait for confirmation.
If it reaches the $41 area, I’d be interested in going long with a stop around $35.
Something to take note of:
TTD experienced a drawdown of 65% during the 2021 downtrend, which took 122 days to reach that level. If it were to fall a similar amount, it would be around $50. Currently, we are 69 days into the downtrend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.