Teladoc Health Inc. (TDOC) has been rapidly gaining fans and probably corporate customers and users as people stay at home during the coronavirus wave. Let's check out the charts of TDOC to see what price points could be important.
In the daily Japanese candlestick chart of TDOC, below, we can see that prices made a long base in the $70-$50 area last year. The breakout from this base has already produced a double in price. TDOC is trading above the rising 50-day moving average line and above the rising 200-day line. The 50-day line has been tested in recent days as the trading range has expanded with traders rushing in and out.
The trading volume has expanded and the On-Balance-Volume (OBV) line has been firm or rising, which tells us that buyers of TDOC have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line since September and only just recently crossed to the downside for a take profits sell signal.