Teladoc stock price on 12/28/2022When in a downtrend like this, you don’t want unprofitable companies. Teladoc doesn’t have a listed P/E or forward P/E ratio at all because the numbers are so high. Moreover, the Teladoc short float is 18.31%, which is far higher than I would be willing to invest in.

But the worst news for Teladoc is actually the chart. A new downtrend pattern has emerged and the bottom line of that downtrend isn’t even on the screen yet. My estimation would be it drops below $15, meaning if Teladoc’s price does drop to the bottom trendline, the stock will be at $15 or below. And due to so many computers controlling the stock market, often I do see stocks follow these trendlines. I wouldn’t have any money on Teladoc right now. Once it hits that bottom trendline at least once, I would begin buying in if I loved the stock. Otherwise, I am waiting for the downtrend pattern to no longer exist and for a more bullish pattern to emerge.

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