Teladoc (TDOC) Just Reclaimed the 200-Day Moving Average
From a technical perspective, Teladoc (TDOC) is looking like an interesting pick, as it just reached a key level of support. TDOC recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.
TDOC could be on the verge of another rally after moving 13.5% higher over the last four weeks. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock.
The bullish case solidifies once investors consider TDOC's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.
Investors may want to watch TDOC for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Teladoc Health, Inc. (TDOC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
