PTON nice overall bullish chart, I like the buying that came on 9/29/2020 once it popped the top at 98.61. On 9/30/2020 we retested that level and held to confirm that breakout. 10/1/2020 nice buying came in to take out recent highs and now I will be looking to see if this can reclaim that 108.10 level and form some nice consolidation to take out that $111.44 - $112.37 area of resistance. At which point a nice range will be formed, which is $112.37 - $120.22 range. The key area I will be watching for this idea to play out will be $108.10 to see if it can make that next leg higher into December. I will keep a close eye on that top channel and 110.25 recent high to see how price action reacts to it as well.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.