Political Spending Ramps Up
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The market will look to bounce back after a strong sell-off on Friday following weak job numbers, as concerns grew about inflation, the effectiveness of potential Fed policy rate cuts, and the uncertainty surrounding the upcoming election.
As we head into the Presidential debate on Tuesday, The Trade Desk (TTD) emerges as an intriguing watchlist idea.
The Trade Desk is a tech company that provides a platform for digital advertising. They help advertisers buy ad space across various digital channels like websites, streaming services, and mobile apps.
Their specialty is programmatic advertising, which uses advanced algorithms to automate the ad buying process in real-time.
As we approach the Presidential election, The Trade Desk becomes particularly interesting because political campaigns tend to spend heavily on advertising.
Their platform’s ability to target specific audiences precisely is valuable for political messaging.
The shift towards streaming TV also plays into their strengths, as more political ads move to these platforms.
But that’s not all…
The company delivered better-than-expected Q2 results and guidance when it reported in early August, leading to a 7% after-hours jump in share price.
Revenue growth rates were higher than anticipated, suggesting strong momentum could continue into 2025.
Shares shot up from $83 to a high of $105.39 following its earnings release, and despite all the volatility in the market, it’s still trading at the $100 range.
The stock got a fresh daily squeeze on Friday.
A fresh daily squeeze setup indicates a period of low volatility that often precedes a significant price move. This suggests The Trade Desk’s stock might be preparing for another leg up.
In addition, it has stacked EMAs.
The presence of stacked EMAs (Exponential Moving Averages) on both daily and weekly charts is a bullish sign.
When shorter-term averages stack above longer-term ones across multiple timeframes, it typically indicates strong, consistent upward momentum in the stock’s price.
Moreover, the stock is trading close to its highest point over the past year. This proximity to its 52-week high suggests The Trade Desk has maintained its strength and shown resilience, even in the face of recent market volatility.
Together, these indicators suggest The Trade Desk could be well-positioned for further gains, particularly if it capitalizes on the expected increase in election-related advertising spending.
Your Action Plan:
TTD has caught my eye, and I’m watching it closely. If the market shows signs of recovering, I’ll be looking for a potential entry point here.
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