• Return to Headlines

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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Teladoc Inc (NYSE:TDOC) based on the price action in the company's shares. Yesterday's price range of $53.46 and $54.79 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. Traders and investors interested in shares of Teladoc Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $54.03, Teladoc Inc is currently 13.3% above its average consensus analyst price target of $46.85. The stock should run into initial resistance at its 50-day moving average (MA) of $61.23 and subsequent resistance at its 200-day MA of $63.98.

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.

Over the past year, Teladoc Inc has traded in a range of $38.20 to $89.05 and closed yesterday at $54.03, 41% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.

SmarTrend is tracking the current trend status for Teladoc Inc and will alert subscribers who have TDOC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle teladoc inc

Ticker(s): TDOC