TDOC waiting at 500 MA
So TDOC has hit close to my 140s target by May earnings. But, I wasn't very happy about the way the right shoulder got formed. It just wasn't convincing enough.
I now consider the idea of TDOC sitting at the 500 Day Moving Average. The last time TDOC re tested the 500MA was in December 2018, after which we saw a 65% jump.
If a similar pattern follows, I think TDOC could be re testing close to 240$ again before next earnings. This would also complete the right shoulder.
I would just watch carefully for wider market pressure in the late May to early July period.
Good luck!
I now consider the idea of TDOC sitting at the 500 Day Moving Average. The last time TDOC re tested the 500MA was in December 2018, after which we saw a 65% jump.
If a similar pattern follows, I think TDOC could be re testing close to 240$ again before next earnings. This would also complete the right shoulder.
I would just watch carefully for wider market pressure in the late May to early July period.
Good luck!
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