TDOC Consolidating
TDOC hourly showing a falling wedge within a larger symmetrical triangle.
Bullish Divergences on hourly RSI and Stoch RSI.
MACD bottoming with slight divergence as well.
Finally a good volume buy this morning, but more is needed.
How to play this:
1. Wait for breakout of the falling wedge (safest)
2.RSI trendlines tend to break out before price does. If it crosses and closes on an hourly candle, may be a good early entry before price follows.
3. Volume precedes price. If you see another 2 or 3 strong volume candles such as this mornings, take a position.
4. As you can see the falling wedge bottom is outside of the symmetrical triangle. Prepare for a possible shakeout to the 168 support before this thing starts its ascent. May not happen, but this is too clean thus far. Would not be surprised. Would buy 2/3 of position here and 1/3 in case of the shakeout at 168
Targets: 188-190 by end of month.
If has enough strength at that point, this goes above 200 on breakout of the symmetrical triangle.
Bullish Divergences on hourly RSI and Stoch RSI.
MACD bottoming with slight divergence as well.
Finally a good volume buy this morning, but more is needed.
How to play this:
1. Wait for breakout of the falling wedge (safest)
2.RSI trendlines tend to break out before price does. If it crosses and closes on an hourly candle, may be a good early entry before price follows.
3. Volume precedes price. If you see another 2 or 3 strong volume candles such as this mornings, take a position.
4. As you can see the falling wedge bottom is outside of the symmetrical triangle. Prepare for a possible shakeout to the 168 support before this thing starts its ascent. May not happen, but this is too clean thus far. Would not be surprised. Would buy 2/3 of position here and 1/3 in case of the shakeout at 168
Targets: 188-190 by end of month.
If has enough strength at that point, this goes above 200 on breakout of the symmetrical triangle.
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