On Tuesday night, Benzinga asked his followers on Twitter what stocks they were watching.

Benzinga selected a ticker from the answers for technical analysis.

@ftr_investors And @miguela02136831 they look The Trade Desk, Inc TTDwhich then increased by over 28% Printing fourth quarter results.

Trade Desk reported earnings per share of 38 cents on revenue of $490.7 million, slightly beating consensus of 36 cents per share and revenue of $490.5 million. The company also announced that its board of directors has approved a $700 million share repurchase and announced first-quarter guidance that beats consensus estimates.

See also: Trade Desk, Roblox, Herbalife and other major big stocks are moving higher

The surge caused Trade Desk to bullishly break away from a long-term descending trendline that had been dragging the stock lower since Nov. 17, 2021, when Trade Desk hit an all-time high of $114.09.

A descending trend line acts as a resistance level and indicates that there are more sellers than buyers, although the price continues to fall. For a trend line to be considered valid, the stock or crypto must touch the line at least three times. Thereafter, the trend line becomes weaker the more often it is touched.

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The Trade Desk chart: After temporarily breaking out of the bull trap descending trendline on February 3rd, Trade Desk dipped back below the range and spent the next five trading days trying to bullishly break out of the trendline. On Wednesday, Trade Desk broke back from the trendline and gained bullish momentum, suggesting that a longer-term trend reversal is on the horizon.

• The breaking bounce from the trendline also caused Trade Desk to regain the 200-day simple moving average (SMA) as support. The 200-day SMA is a key leading indicator, and when a stock is trading above this area, it is considered to be in a bull cycle.
• The gap remained…