TDOC may have bottomed

27 Nov 2021

Over the past week TDOC cracked its 2020 COVID of $102.01 and hit $100.51. However it recovered and closed the day at $106.00 reclaiming the 23.6% fib level($105.54) of this retracement from its December 24 2018 low to its ATH. In doing so also reclaimed the 100% level($103.17)of this inverse extension from Jun 29 2021 high to October 4 2021 low to November 4 2021 high. Today aided by the new COVID variant TDOC gapped up at open and had a high of $119.98 on the day before selling off down to $109.61. Next week I will be looking for a pullback and bounce off of the $105.54 level if it can hold there and continue its move up I will be looking for it to start its way back to $144. It will also have to contend with this downward trendline on the weekly next week that’ll be around that $120.67 area. I will follow the levels from the fib extension as well as the points I have with rays on my chart for old support/resistance. If it breaks down and can’t hold $105.54 my next levels down are $103.17 $102.01 $98.98 and then down to $90. Primarily looking for the upside here.