TDOC trade ideas
$TDOC Downtrend Breakout - Unusual Bullish Options Flow$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 Daily ChartTicker: $TDOC Daily Chart
- Strong daily move through multiple points of resistance
- Held the 50 EMA, reclaimed channel support, and broke through our downward resistance
- If we can reclaim the POC, watch for 220 then 240
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.
Teladoc ChannelI'm creating channels for a few stocks that I'm bullish on to see if I can swing money from stocks at the top of their channel to stocks at the bottom of their channels to maximize profits
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).
$TDOC curling off channel supportTicker: $TDOC
- Beautiful daily close within our channel support
- Need to break our downtrend to see higher
- Above downtrend we will run to our volume shelf
- If we fall back below channel watch for 180
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
Disclaimer: These should be seen as the commentator's Notes to Self. Hopefully educational but aiming for entertaining. No legal or financial liabilities should be pursued from these materials.
TDOCBreaking out from consolidation zone...watch out for chop within larger consolidation zone. (No Position).
$TDOC Channel/ Play the PivotTDOC Daily Pivot at $208.63
If daily close below the pivot, target bottom of channel/ daily order block at $192.xx
If daily pivot holds target long gradual push to top of channel.
For more risk adverse investors, take profits along the way up.
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)
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
NYSE:TDOC
Teladoc Health Inc (TDOC) could rise 8%Relative Strength Index currently low and the next resistance level is 8% higher so this could be a good stock to buy for short term gains.
