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Possible Bearish Inside Day Candle Pattern Detected for Teladoc Inc (NYSE:TDOC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Teladoc Inc (NYSE:TDOC) based on the price action in the company's shares. Yesterday's price range of $65.00 and $68.04 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Teladoc Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Teladoc Inc has traded in a range of $27.30 to $89.05 and closed yesterday at $65.33, 139% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has declined 1%.

Teladoc, Inc. provides healthcare services. The Company diagnoses, recommends treatment, and prescribes medication for routine medical issues through phone and video consultations. Teladoc operates in the United States.

Based on a current price of $65.33, Teladoc Inc is currently 28.3% above its average consensus analyst price target of $46.85. Teladoc Inc shares should encounter resistance at the 50-day moving average (MA) of $72.79 and support at its 200-day MA of $56.68.

SmarTrend is monitoring the recent change of momentum in Teladoc Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Teladoc Inc in search of a potential trend change.

Keywords: bearish am inside day candle teladoc inc

Ticker(s): TDOC