Tactile Systems Tech (TCMD) is your Trade of the Week
Many of you who attend our regular webinars may have heard about a new filter we are creating called the “Trade Ideas Composite Rating” to help curate the underlying strength of stocks that Holly has brought to our attention. Late last month, the Trade Ideas artificial intelligence known as Holly spotted something in Tactile Systems Tech (TCMD) and issued a BUY tag for that day. Since that day TCMD has rallied strong and recently consolidated. Last Friday TCMD closed 20 cents above this consolidation period and is showing a solid composite rating score which tells us that the stock is healthy in terms of both fundamentals and technicals.
The Trade of the Week in TCMD is considered live at new all-time highs above 60.26. The suggested stop this week is only going to be a range. The exact stop price will be up to you. Be mindful that the 50 day moving average is bringing up the rear around 54.00 right now so this may be a key level for TCMD. The stock closed at all-time highs on Friday so there is no upside resistance to this one at the moment. Therefore, the target will also be up to you.