When considering what names to put on your watch list, focus on stocks with an 80 or higher RS Rating. Teladoc Health is one stock that just reached the mark, now earning a score of 89.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 as they begin their biggest price moves.
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Teladoc Health has moved more than 5% past a 12.43 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Teladoc Health posted negative growth for both sales and earnings last quarter. Teladoc Health is expected to release its next quarterly numbers on or around Feb. 26.
The company earns the No. 7 rank among its peers in the Computer Software-Medical industry group. Doximity, Waystar Holding and Veeva Systems Cl A are among the top 5 highly rated stocks within the group.
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