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The Trade Desk (TTD) Just Reclaimed the 50-Day Moving Average

·1 min read

From a technical perspective, The Trade Desk (TTD) is looking like an interesting pick, as it just reached a key level of support. TTD recently overtook the 50-day moving average, and this suggests a short-term bullish trend.

The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.

Moving Average Chart for TTD
Moving Average Chart for TTD

Shares of TTD have been moving higher over the past four weeks, up 14.9%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that TTD could be poised for a continued surge.

Looking at TTD's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

Investors may want to watch TTD for more gains in the near future given the company's key technical level and positive earnings estimate revisions.


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