A Better Lock on This IPO

While the Snapchat IPO is predictably igniting plenty of buzz today, I have my eye on an IPO from late-last year which recently woke up with a vengeance. 

The Trade Desk, an ad tech company, below on the daily timeframe, has been surging over the last few years, shaking off both an initial earnings sell-off plus an offering during that time. 

Given that TTD has had a good five months now to form its post-IPO base, I am more convinced of strength here than in a brand new chart like SNAP. Going forward, I am looking for a multi-day bull flag or shallow pullback for an long entry. The stock was downgraded this morning which should set that process in motion.

In terms of playing IPOs by-the-book, TTD is the better choice than immediately getting involved with SNAP. 

More on the broad market with specific ideas in my usual Midday Video for Members.