TDOC bullish using fib extension for entry/exits. Nice support at 181, next support at 161. keeps bumping off (down) of the "golden zone" around 225.
reasonable entry point right now and look to sell if stuck at 210. if goes past 210, look to sell at 225 if it gets stuck. if it goes past 225, look for major bullish run (up, up, up).
0LDR trade ideas
TDOC target 275Moving along the upward trend channel. Having spent Aug consolidating in megaphone, TDOC looks ready to breakout to the upside. Measured move to 275-285.
Position: Long
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TDOC - LONG Idea- After a recent pullback (news of merger with LIVONGO), price has closed above the 20ma again and looking attractive to jump on the trend or add to existing positions ( LINK BELOW of intial trade)
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
NYSE:TDOC
$TDOC Teladoc Reversal Targets
Potential reversal trade post 30% retrace.
Stock has found support on the Fibonacci Golden pocket.
Stochastic attempting to bottom and cross.
Sell side volume declines.
100ma now support.
$198-$204 potential target range short term
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Downside Risk: TDOC Broke 10 WMA in 225% VolumeTDOC, which is a darling in the Covid pandemic has downside ride because of the break of the 10 week moving average. This is highly risky because they are currently in negative cash flow with a yearly estimated EPS of -$1.36/share. If the bull trend continues would not be surprise of a quick recovery in about 3 week by hitting the 40WMA of about $150 then bouncing back.
Bullish moving to 200 this weekTested support 3 times at low 180s failed to break, shorts gave us a head fake last week with a big bullish candle and are trying to bring the price back down, however, the selling pressure is not there anymore. Waiting for it to break over the top Bollinger band and this will pop over 200 and stay there.