1 Trade Desk stock price fell 14.45% in October 2023. 2 TTD stock price dropped below the 200-day EMA. 3 The quarterly earnings of Trade Desk Inc. are expected to be released on November 9, 2023. TTD stock price fell 14.45% approximately in October 2023 and displayed a triple-top...
- 1 Trade Desk stock price fell 14.45% in October 2023.
- 2 TTD stock price dropped below the 200-day EMA.
- 3 The quarterly earnings of Trade Desk Inc. are expected to be released on November 9, 2023.
TTD stock price fell 14.45% approximately in October 2023 and displayed a triple-top bearish pattern. It broke down the $70.00 level with a high volume and formed a bearish candle.
Trade Desk stock price faced rejection from $86.00 and reverted in a downward direction. It slipped below the 50-day and 200-day EMA, indicating a downtrend that fueled the further downfall.
TTD stock price lost the bullish momentum and seems to be entering a correction phase. Sellers look more aggressive as compared to buyers. So, if any relief rally triggers, then the reliability of the pullback remains doubtful.
The selling volume in the Trade Desk stock surged and the price followed a downward direction. It indicates some genuine investors have turned bearish and are taking an exit from the higher levels.
At present, the stock is near its long-term demand zone so the price might spend some time in narrow-range consolidation before deciding the next direction.
Meanwhile, the broader market indices and technology companies are in a bears’ grip. So, it indirectly impacted the TTD shares.
Trade Desk stock price closed the previous session at $66.86 with an intraday rise of 0.97%. The market capitalization stands at $32.77 Billion.
Will TTD Stock Price Retest Previous Low?
TTD stock price is inside the sellers’ radar and no signs of recovery are visible. However, the share price looks oversold, so short-term pullback may hit anytime.
The quarterly earnings of Trade Desk Inc. are expected to be released on November 9, 2023.
Equity analysts predicted an EPS of $0.289 and revenue of $486.88 Million for the stock. By analyzing the historical records, the company is likely to meet the EPS as well as revenue estimates.
However, it will be interesting to see how the price reacts to the earnings. The technical analysis suggests a downfall in Trade Desk stock price that may take a halt near the $60 level and spend time in a narrow range.
Trade Desk Stock Price Turning Bearish on Multiple Timeframes
Trade Desk stock price fell 10% in the previous week. It seems that the stock price is turning bearish on multiple time frames and the sellers continue the dominance.
The MACD curve negatively intersects with the moving average and slopes down. The histogram bar is red which indicates that sellers are strengthening their grip.
Whereas, the RSI 37 reversing upward from the oversold territory indicates a short-term relief rally is possible.
Conclusion
TTD stock price fell 14.45% in October 2023 and formed a bearish pattern. It has corrected a lot from its swing high. So, a short-term pullback may trigger any time to clear out the short positions.
The analysis suggests that a downfall in Trade Desk stock may take a halt near $60 and the price may enter consolidation.
Technical Levels
- Resistance levels: $76.58 and $80.00
- Support levels: $64.00 and $60.00
Disclaimer
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