MAY 27, 2020
Link to the Real. It Pays.
the technicals are a mixed bag. Other times not. When the long-term chart displays the “Moment of Truth,” yet another retest of long-term support, it may be time to take some money off the table. When the chart does so following a doubling of the share price, it may be time to sell it all. We mentioned TDOC’s situation in Tuesday’s piece. Why? Because we strongly felt someone was about to be “TDOCed”
we can see in the weekly one-year chart an intact uptrend. Weekly charts display long-term truth. What does this chart tell us? It says the support is again being retested. The chart is a picture of the moment of truth. When we realize that shares have risen 108% this year, the risk is clearly to the downside. Even long-term investing says “take profits.” As of this writing, TDOC has now dropped 15.33% in five days, and 17.9% over twenty.
about making money, not attempting to snag every penny on offer. Teledoc, again, remains a neon-blinking example of our market. Little is working. Of what is, much has already roared. Often sell-offs such as Tuesday and today, extend for three days. After that, some good entry points will again be available for high-flyers, including Teledoc, if one maintains a longer-term time frame. We do. As always, good luck and good investing.