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divyansh99

TDOC undergoing consolidation and trying to form a bullish trend

Long
Teladoc Health, Inc. (NYSE:TDOC)  
divyansh99 Updated   
NYSE:TDOC   Teladoc Health, Inc.
Trend Analysis Chart Patterns teladoc
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trendanalysis chartpattern teladoc
TDOC Stock is undergoing consolidation. Volume increased to 3.42M shares against 2.99M avg. Not a lot of spike in volume as investors are still not sure of the stocks bullish trend. The stock will take some more time to prove that bullish trend is underway. As US states are seeing a spike in COVID19 cases, investors are unclear whether partial or complete lockdown will occur again.
OBV needs to clear the previous high point which needs more 1-2 trading days.
Comment:
Formed double bottom. So resistance point @ 203.85 which should breach this week. MACD also showing positive signs of breaching the O line. Rising RSI shows trend reversal from bearish to bullish. Keep an eye on the COVID19 cases and second wave for some shakeups. Overall the stock is set for a bullish upward from 203.85.
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