Teladoc Tests Its All-Time Low

New 52-Week Lows led New Highs — 74 vs. 72.

June 20, 2024

Good evening. Welcome to Trends with No Friends.

For those just joining us, here’s an overview…

Trends With No Friends sifts through the noise and discovers stocks above $1B market cap with high relative strength and low social following.

Why is this combination important?

Stocks that are outperforming tend to continue to outperform. Stocks that have a low social following are, by definition, undiscovered by the crowd. Stocks that have both Relative Strength and Low Social Following can really outperform as more investors discover them.

They are ripe to rip.

The Dow was the only positive major index. The Nasdaq Composite closed -0.79%.

Energy surged +1.84%. Utilities and financials gained more than +0.50%. Tech tumbled -1.12%.

New 52-Week Lows led New Highs — 74 vs. 72.

The Worst of the Worst

Teladoc Health ($TDOC) is the worst of the worst. The telehealth service provider stumbled -4.36% and closed $0.15 above its all-time low close.

Here’s the daily chart.

And monthly chart.

$TDOC has 39,044 followers on Stocktwits.

Unity Software ($U) is a notable new low. The video game software developer dipped -3.42% and closed at an all-time low.

Here’s the daily chart.

And weak weekly chart.

$U has 30,062 followers on Stocktwits.

Solaredge Technologies ($SEDG) is a notable new low. The solar stock dropped -7.45% and closed at its lowest price since December 2018.

Here’s the daily chart.

And monthly chart.

$SEDG has 14,580 followers on Stocktwits.

The Best of the Best

Nurix Therapeutics ($NRIX) is the best of the best. The biopharmaceutical company carried +13.72% and closed at its highest price since January 2022.

Sunday, the company presented positive results from its ongoing clinical trial for patients with Relapsed Refractory Chronic Lymphocytic Leukemia.

Here’s the daily chart.