Is Teladoc Health Headed for a Big Move?

NYSE: TDOC | Teladoc Health, Inc.  News, Ratings, and Charts

TDOC – A level of support has formed in the chart of Teladoc Health, Inc. (TDOC). In addition, the stock has been declining against a down trending resistance line. This has created a descending triangle. The stock is expected to break through either level. Read more to learn how to take advantage of this trading opportunity.

Teladoc Health, Inc. (TDOC) is a virtual health provider with a telehealth platform delivering 24-hour, on-demand healthcare via mobile devices, the Internet, video, and phone. It also offers remote patient monitoring programs for chronic care management. Its platform connects members with a network of physicians and behavioral health professionals.

Demand for TDOC’s offerings have been decreasing this year after a surge in demand last year. Even as the Delta variant soared across the country, doctor’s started seeing patients in the office again. The company’s 2021 guidance for membership and visit growth is now lower than last year’s.

As of the most recent quarter the company had $786 million in cash, which compared favorably to no short-term debt. In terms of growth, TDOC’s earnings are expected to fall 48.8% year over year in the current quarter.

Plus, the stock looks overvalued with a high price-to-sales ratio of 10.8. The stock has been showing bearish momentum since July as shown in the chart below.

Take a look at the 1-year chart of TDOC below with my added notations:

Chart of TDOC provided by TradingView

TDOC has formed a major support level at $130 (green) over the past several months. In addition, the stock is also declining against a down trending resistance line (red). These two lines have TDOC trading within a common pattern known as a descending triangle.

Click Here to Read the Greatest Trading Book Ever Written

Eventually, the stock will break out of this pattern.  A short trade could be made on a break of the $130 support level. A long trade could be made on a break through the trendline resistance.

Want to Discover More Great Trades?

What is better than finding the 1 attractive stock in this article?

Discovering 5 timely trades…like the ones in this new special report. Click below to claim your free copy now!

5 Stocks Ready to BREAKOUT!


TDOC shares fell $2.23 (-1.66%) in premarket trading Tuesday. Year-to-date, TDOC has declined -33.80%, versus a 18.47% rise in the benchmark S&P 500 index during the same period.


About the Author: Christian Tharp


I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group and Yolo Publishing. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
TDOCGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


:  |  News, Ratings, and Charts

7 Simple Strategies to Beat the Market

Steve Reitmeister has been investing successfully for over 40 years. In his new presentation he shares his top 7 strategies learned over the years to help investors beat the stock market (SPY). Discover these strategies now to improve your investing results in the months and years to come.

:  |  News, Ratings, and Charts

AutoNation: A Great Value Stock

Shortages in parts, especially semiconductors, this year, has been a boon to auto dealerships. Consumers resorted to buying used cars and parts, which benefits a company such as AutoNation, Inc. (AN). The stock has seen strong revenue growth and share gains this year. Since AN is still very much undervalued, there is a lot more upside left for investors.

:  |  News, Ratings, and Charts

Go From Zero to 60 with a Still-Early-Stage Stake in Fisker

Admittedly, it took a long time for Fisker (FSR) to unveil its all-electric SUV. With that event now completed, FSR stock is prepped for a rally.

:  |  News, Ratings, and Charts

Bull Market Update: Year End Targets?

4,700 seems to be a point of serious resistance for the S&P (SPY) leading to an extended consolidation period hand in hand with violent sector rotation. Why is this happening? What happens next? And how to trade this environment? The answer to these questions and more are discussed in this market commentary below...

:  |  News, Ratings, and Charts

Go From Zero to 60 with a Still-Early-Stage Stake in Fisker

Admittedly, it took a long time for Fisker (FSR) to unveil its all-electric SUV. With that event now completed, FSR stock is prepped for a rally.

Read More Stories

More Teladoc Health, Inc. (TDOC) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All TDOC News