Support cluster detected!! ✍︎tdoc is bouncing off extreme trendline support! like i said many times before, trendlines dont lie. 🧐
Also bouncing off 2018 resistance which is now support, this is what we call a support cluster! if you are short you are wrong in my opinion. Target top trendline resistance before a potential pullback.
goodluck! like and follow for more 💘
TDOC trade ideas
BUY THE DIP // TDOCWEWEWEWE
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TDOC may have bottomed Over the past week TDOC cracked its 2020 COVID of $102.01 and hit $100.51. However it recovered and closed the day at $106.00 reclaiming the 23.6% fib level($105.54) of this retracement from its December 24 2018 low to its ATH. In doing so also reclaimed the 100% level($103.17)of this inverse extension from Jun 29 2021 high to October 4 2021 low to November 4 2021 high. Today aided by the new COVID variant TDOC gapped up at open and had a high of $119.98 on the day before selling off down to $109.61. Next week I will be looking for a pullback and bounce off of the $105.54 level if it can hold there and continue its move up I will be looking for it to start its way back to $144. It will also have to contend with this downward trendline on the weekly next week that’ll be around that $120.67 area. I will follow the levels from the fib extension as well as the points I have with rays on my chart for old support/resistance. If it breaks down and can’t hold $105.54 my next levels down are $103.17 $102.01 $98.98 and then down to $90. Primarily looking for the upside here.
TDOC is poised for growthI see that TDOC has the MCAD and the RSI showing that it is ready to grow again. It has also a rating to rise to $162 up to as high as $215. We will see. Either way, the volume has shown it some encouragement as well on Wednesday with the Red to Green growth. Let's see this grow.
$TDOC - chart requestNote: I have no position here and doubt I will take one
Did someone call a doctor?
Sorry - not so sure a doctor is going to fix the murder that has happened to this stock..
Alright - jokes aside - where is this going? Well lets look at this. We have a huge dip buy range for bottom 54- 109??!?!?!? What the heck...
Alright well the Primary WXY has a 61.8 extension at the 109 range. Ok. That isnt too far away. Now we have a nested intermediate WXY within the primary and the 100 extension of that is also perfectly 109. (see how both at some exact spot). ... Cool we have confluence. So now what?
Well we need to get to that area first and then we want to see divergence on the indicators. RSI, MACD, and %r are all still bearish w/ no divergence, so no trade here. We wait until we see those signals, then we wait to see an uptrend start and buy a pullback of that uptrend.
Knife catching this isn't smart when the low could be in the 50's.... And that is only the 100 extension... Technically you can go all the way to 161.8 for a Y, but here we cant because that would put this stock negative...
Hope this helps
TDOC - Possible TradeHello traders,
As you can see $TDOC is in a support zone.
We will enter now with the green lines as targets.
* you can take profit all the way up toward the green lines.
** Our SL will be breaking the channel and close below it.
*** This is not a financial advice, I'm still a beginner trying to share my Road here.
Than you.
TELADOC: I have bought the VIRTUAL DOCTORThe company TELADOC offers virtual care for consumers across multiple clinical specialties to help people help people with their primary care, acute, chronic and even complex health needs. And as I mentioned, they are the market leader in this space.
They have also recently partnered with Vivo Improve Access to Quality Healthcare in the densely populated Brazil by means of their mobile app. (which I like)
Anyway, the share price is down about 30% over the last year and is nearing really attractive levels for a punt for a short term bounce. The stock is currently trading at around $140.00 per share but if we see levels of $135.00 or better, I will definitely be climbing in.
As you know we are primarily trading contracts for difference as our instrument of choice, so if we do get in this week, I will share details and the mechanics of the trade with you. and of course our listeners
We’re long at $133.50