TDOC: SOME POSITIVE SIGNS
Updated
TDOC:
One of Cathie Wood's big holdings.
After being totally destroyed TDOC stock is showing some positive signs of a reversal:
1. Hammer candle on daily (which will have to be confirmed by one or two more candles, i.e. follow through).
2. Bullish divergence RSI-PRICE
3. Price just below historical support-resistance zone. I don't like that fact that we broke below support but it could just a false breakout*, if this is the case I would expect the price to go back above the green lines.
I'll be much more bullish if we break the resistances (green lines).
I initiated a long position yesterday as a swing trade. My target is around $100 but will reassess if/when we get there.
Trade safe!
*A failed break occurs when a price moves through an identified level of support or resistance but does not have enough momentum to maintain its direction. ... Since the breakout attempt failed, the price could head the other direction. A failed break is also commonly referred to as a "false breakout."
One of Cathie Wood's big holdings.
After being totally destroyed TDOC stock is showing some positive signs of a reversal:
1. Hammer candle on daily (which will have to be confirmed by one or two more candles, i.e. follow through).
2. Bullish divergence RSI-PRICE
3. Price just below historical support-resistance zone. I don't like that fact that we broke below support but it could just a false breakout*, if this is the case I would expect the price to go back above the green lines.
I'll be much more bullish if we break the resistances (green lines).
I initiated a long position yesterday as a swing trade. My target is around $100 but will reassess if/when we get there.
Trade safe!
*A failed break occurs when a price moves through an identified level of support or resistance but does not have enough momentum to maintain its direction. ... Since the breakout attempt failed, the price could head the other direction. A failed break is also commonly referred to as a "false breakout."
Note
Bullish divergence daily + TD Sequential 9 weekly.Adding a bit here.
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