$TDOC multiple signals buy (4/5)
Conviction: 4/5
Main thesis
Misc Info
Potential Risks
Main thesis
- Retrace to .786 fib level from 2016 lows. This is an unconventional level but it coincided with medium-term resistance from 2009-2020.
- RSI-W touched historical bounce area (however, if we wait for bullish divergence there could be another leg down)
- RSI-D showing bullish divergence
- Touching lower bound of channel (2016)
Misc Info
- P/S level of 7ish is high on absolute level, but on lower end of range relative to other high growth names
- Healthcare (
XLV) looks good compared to 
SPY, could carry this up as well - High margin and high growth
- Very healthy quick ratio
Potential Risks
- Bullish div = another leg down
- Very negative FCF (not sure why?)
- Channel does not include last major recession (2008)
- General markets are very expensive, and we all know correlation goes to 1 in selloff.
- High growth / expensive names seems like will sell off more than general market
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.