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Teledoc Health (TDOC) Is Retreating, Watch This Trade Level

Teledoc Health (TDOC) has been a major winner since the COVID-19 scare began in late February 2020. The stock traded as high as $176.40 a share on March 24, 2020. Since that high pivot, the stock has been steadily declining and is now trading at $140.04 a share. Traders should now watch for a bit more downside as the fears of the coronavirus subside. The next major support area that catches my eye is around the $120.00 area. This is where the stock broke out to the upside on March 18, 2020. Often, when a stock pulls back into their prior breakout levels they become solid buying opportunities. Please note, TDOC will report earnings on April 28, 2020 after the closing bell.

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