TTD - Hammer candlestick reversal patternI wanted to go over reversal candlestick patterns in down trends for symbols TTD.
TTD - Is a stock I've been following for years and recently posted a good earnings report.
On jan 7th, we had a hammer candle after a downtrend whih means a possible reversal.
The fib retracement was close enough to the most common .618 retracement level.
There was strong support there as well from the earnings gap up area of $702
TTD
reversal hammer candle on daily timeframeI wanted to go over reversal candles in down trends for symbols TTD. TTD - Is a stock I've been following for years and recently posted a good earnings report.
On jan 7th, we had a hammer candle after a downtrend which means a possible reversal.
The fib retracement was close enough to the most common .618 retracement level.
There was strong support there as well from the earnings gap up area of $702
If you have any questions, please leave a comment
TTD found support on long term trendlineOn the positive side, TTD is now trading on the long term trendline, which coincides with the .786 fib retracement level. Also, the Stochastic is in oversold territory and curling up.
On the negative side, however, the MACD still has a lot of room to go down and TTD is below the three main moving averages on the daily: 14-ema, 21-ema, and 50-ema. The 14-ema seems to be crossing over the 21-ema, which is also a bearish sign (this could be reverted rather quickly though if TTD sees a move up the next few days).
Detailed view:
Hopefully the price will hold and start moving up.
I already have a position on TTD. I am not buying at this level. If the price holds and confirms a move up I may add to my position. If the price breaks below the trendline I will look for other support levels to add more.
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***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
TTD : EXPANSION BREAKOUTTTD broke out on earnings with strong price action supported by >300% volume compared to its 50-day trailing average.
Earnings Summary:
Revenues rose nearly 32% year-over-year, and headline net income more than doubled, to $41.2M.
Adjusted EBITDA rose to $77.2M from $47.8M (margin to 36% from 29%), and non-GAAP net income jumped to $62.7M from a year-ago $36.1M.
As a result of "several years of advertising disruption and innovation compressed into a few months," advertisers have "become more deliberate and data-driven with every advertising dollar," says CEO Jeff Green.
"As advertisers come under pressure to prove the ROI of their campaigns, to take advantage of the mass consumer shift to streaming TV, and to consider alternatives to user-generated content, our investments in these areas are paying off," Green continues.
In channel highlights, the company noted connected TV grew over 100% Y/Y; mobile video spend grew about 70%; and audio spend grew about 70%.
Customer retention stayed over 95% as it has for five years.
"Assuming that the economy continues to recover" and absent any major COVID-19 setbacks, it's guiding to Q4 revenues of $287M-$291M (well above consensus for $255.1M), and adjusted EBITDA of at least $115M.
$TTD´s relaunchSeptember has been cruel to the markets. Nevertheless, the impulse is starting once again. TTD has stepped over an old support, later used as a resistance and can now provide a stable support once more.
Its RSI is increasing rapidly and the MACD line has crossed the Signal line below the 0, indicating the momentum is starting and with pure strength.
TTD - 14.3% Potential Profit - Uptrend Corridor+Bullish PennantClear uptrend corridor with Support and Resistance confirmed multiple times over the past 4 months.
Bullish pennant formed within.
Short term swing trade that I would close before earnings on 6th August.
- Historical uptrend
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $449.5
Suggested Stop Loss $441.25
Target price $525