Peloton officially VOIDED its bullish pattern.
Update from yesterday's PTON chart analysis:
Peloton has officially broken its upward climb with a fall under the 125-126 support level.
Although I like this as a long term investment, the short term is looking like a sideways/downward trend.
If you plan to play calls, I would look for end of year expirations.
Peloton can benefit from the winter months if COVID cases surge, gyms close but for now I think the ceiling is 136-137.
Peloton has officially broken its upward climb with a fall under the 125-126 support level.
Although I like this as a long term investment, the short term is looking like a sideways/downward trend.
If you plan to play calls, I would look for end of year expirations.
Peloton can benefit from the winter months if COVID cases surge, gyms close but for now I think the ceiling is 136-137.
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