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Swing Trade Idea (TTD) – September 19, 2023

Our bearish trade for Tuesday, September 19th is The Trade Desk Inc. (TTD). TTD is part of the Technology Sector, which has performed at 2.50% over the last week, with TTD underperforming relative to its sector at -6.73% over the same period.

TTD formed a higher low at $87 from where it is continuing to trade lower as strength is declining. This stock has also underperformed relative to its sector and its bullish trend recently turned neutral. We expect this trend to continue with the next area of support at around $75 and then $70.

As a close, if TTD were to trade above $87 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We will also consider cutting losses on this options trade if the value of the vertical spread moves above $4.12 Debit.