Hello Traders and Investors,
let's quickly review our buying recommendation on TTD, which happened on June 22nd.
Well, literally right on the next day TTD shot up and within only 8 Trading Days it already climbed around 20,50% to $76,62 (Fridays close). Obviously I couldn't imagine that this move would happen that soon neither be so strong, therefore some luck is also part of the business. Nevertheless on a technical basis TTD's Chart is now even stronger than at that time due to the 'Goldie-Lock' move (blue circle) where the 50 day EMA crossed the 200 day EMA to the upside. This is a very bullish move and therefore I expect TTD soon going after Target 1 at $80,66 and then after a brief consolidation even going after Target 2 right above $90. On a technical Basis this is perfectly viable if Volume picks up again.
Although fundamentally I'd like to point out that TTD on June 22nd was valued at 32 times EV/Sales (TTM) and now after this leg up it is already being valued at 40,25 times Sales, which is a sky high multiple. As trees do not grow endlessly, as soon as TTD reaches the 2nd Target, cautious Investors and Traders should consider taking some chips off the table.
Hope you liked this quick review and if so consider hitting the like button and leave a comment.
let's quickly review our buying recommendation on TTD, which happened on June 22nd.
Well, literally right on the next day TTD shot up and within only 8 Trading Days it already climbed around 20,50% to $76,62 (Fridays close). Obviously I couldn't imagine that this move would happen that soon neither be so strong, therefore some luck is also part of the business. Nevertheless on a technical basis TTD's Chart is now even stronger than at that time due to the 'Goldie-Lock' move (blue circle) where the 50 day EMA crossed the 200 day EMA to the upside. This is a very bullish move and therefore I expect TTD soon going after Target 1 at $80,66 and then after a brief consolidation even going after Target 2 right above $90. On a technical Basis this is perfectly viable if Volume picks up again.
Although fundamentally I'd like to point out that TTD on June 22nd was valued at 32 times EV/Sales (TTM) and now after this leg up it is already being valued at 40,25 times Sales, which is a sky high multiple. As trees do not grow endlessly, as soon as TTD reaches the 2nd Target, cautious Investors and Traders should consider taking some chips off the table.
Hope you liked this quick review and if so consider hitting the like button and leave a comment.