Livongo (LVGO) to Teledoc(TDOC) Merger SuccessLivongo (LVGO) to Teledoc(TDOC) Merger Success
Quick focus before sleeping:
Outlook for the company is strong in a quarterly bases: www.fool.com
COVID-19 is still ramping havoc on the world; and, winter 2020 is about to come. It is November now.
This company is positions globally as well to take advantage of its market.
Conclusion:
continuation of fundamental and technical trend
currency price of TDOC: 200.98
tentative target: 500
0LDR trade ideas
Bottomed the trend and earnings tomorrow The earnings report tomorrow is anyones guess, but as covid has kept people home, I'm pretty bullish on it. The last earnings report missed the analysts estimated target by a considerable amount, although staying within trend, it has set the stock up fo a nice position for good gains ahead in my opinion.
I can see this type of industry expanding as society changes to the new norm
TDOC pitchfork pattern analysisTDOC closed below the 2nd pitchfork on 9/16 which is the signal the trend will soon reverse and go up. That happened indeed. At this point TDOC reached the top of the 1st pitchfork which acts as a resistance line (and is also close to the purple resistance line). This means it may bounce back down or break through. Given that that market has reversed and is going up (see my related SPY ideas below), it is likely that TDOC will break trough. Then I expect TDOC to reach the upper line of the last pitchfork (see the blue arrow). Given more time TDOC will likely reach at least the middle (brown) line of the second pitchfork.
Additionally, there is also an bullish signal on 9/10 for TDOC (when price was 198.14) for a strategy with 952% backtesting profit since 2016 (market data available since some time in 2015) and 77% profitable trades (the strategy is based on my Tug-of-War indicators).
Conclusion: go long. Post-market TDOC is down to 213.38 at this time. If that stays the same till tomorrow at opening it may be a good buy opportunity.
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DISCLAIMER: Security trading involves substantial risk of loss. My analysis is not trading advice. Do your own research first and/or consult a financial advisor. I'm not responsible for any losses you may incur following my analysis.
$TDOC Downtrend Breakout - Unusual Bullish Options Flow$TDOC telehealth company Teladoc Health broke out of a recent downtrend today and closed above resistance.
There was also some unusual bullish options flow today with about $7M in near term calls traded. Specifically the $215 strike call expiring this week traded more than 10x its open interest just today. Put/Call Volume Ratio was about 4:1 or in other words for every put traded today four calls were traded.
A reliable breakout confirmation would be to see this pull back to the downtrend line (~$211.50) this week and retest it as support.
Near term price target: $228
Medium term price target: $250 (late October)
Also of note: a Bullish analyst note published today: "D.A. Davidson analyst Hannah Baade initiated coverage of Teladoc with a Buy rating and $250 price target."
See Benzinga Article: "Stay-At-Home Stock Play Teladoc Set For Q3 Beat, DA Davidson Says In Bullish Initiation"
TDOC: Looks primed to go on another runI took a long position in TDOC last Thursday in anticipation of the break of 199 resistance and was able to capitalize on a nice 10 point move on Friday. However, the move was short-lived as TDOC sold off with the rest of the market but it did find support at 199 demand zone. We got a decent close on Friday but still need to break above 212 level which is coincidentally the break of high volume node and 50 DMA to confirm the breakout. $TDOC, $LVGO, and several telemedicine names have seen monstrous accumulation these past few weeks and with the resurgence of COVID cases in Europe, I can see these names moving 15% in the coming weeks and eventually retest all-time highs. I added a small long position on Friday and will add more once the breakout is confirmed. The above ideas are my own and should not be considered as investment advice. Please do your own due diligence before investing.
Bullish engulfing and oversoldAfter completing what looks like a head and shoulders pattern, a bullish engulfing on the daily candle may signal a reversal when paired with the SlowStoch indicating an oversold condition. A retest would confirm and make a base for nice entry on good market conditions. Note LVGO follows TDOC.