A level of support has formed in the chart of Teladoc Health, Inc. (NYSE:TDOC). In addition, the stock has been declining against a down trending resistance line. This has created a descending triangle. The stock is expected to break through either level. Read more to learn how to take advantage of this trading opportunity.Teladoc Health, Inc. (TDOC) is a virtual health provider with a telehealth platform delivering 24-hour, on-demand healthcare via mobile devices, the Internet, video, and phone. It also offers remote patient monitoring programs for chronic care management. Its platform connects members with a network of physicians and behavioral health professionals.
Demand for TDOC’s offerings have been decreasing this year after a surge in demand last year. Even as the Delta variant soared across the country, doctor’s started seeing patients in the office again. The company’s 2021 guidance for membership and visit growth is now lower than last year’s.
As of the most recent quarter the company had $786 million in cash, which compared favorably to no short-term debt. In terms of growth, TDOC’s earnings are expected to fall 48.8% year over year in the current quarter.