Riskier trade, but offers good R:R
PTON long idea, waiting for a pullback to weekly demand, will look for a 4h momentum shift to the upside
NASDAQ:PTON play if touch and holds 137 support. Buy price 137.56, Potential Target: 169 Stop loss: 125.13 Disclaimer: I"m NOT a financial advisor. All trades idea are shared for educational & entertainment purposes only. All advice is based on technical and my own opinion.
Setup shows U shape recovery and stock trying to break out. A huge volume indicates the crowd is anticipating a breakout here. Then room to go around 169 as per measure move. Wait for breakout, retests and holds support to confirm. The only concern is on RSI is enter into the overbought area. Buy Area: 139 PT: 169 SL: 129.37 Disclaimer: I"m NOT a financial...
It should be noted that ARKK purchased 135,000 PTON today. Looking at the chart, it looks primed for a small breakout upside. With more lockdowns being enacted we could see the 122 area, which is historical support/resistance. I plan on taking calls or buying shares above 117, selling just shy of 122.
Bull Case: Break out from Flag. Target $121.7
I recounted the parabolic curve of $PTON where the Base 4 is ended at $103 as shown in the chart. However a spike from Base 4 is not mandatory in parabolic curve pattern but indicators and pattern are strong enough for the last spike. But there are couple of checkpoints for the stock to reach $130-$150 : 1) Stimulus Package 2) Trump's health If these two marked...
PTON almost breaking out of Bullish Pennant where it can hit between $115-$118.5. If it fails, it has strong support at $110, $108.5, $106 & 104. I hold $112 & $120 calls for this week. Good Luck.
$PTON is in its last leg of Parabolic curve. If cup & handle performs then it can hit $112.9 and if fails it has strong support at $104.3 If $104.3 is breached then it confirms end of parabolic curve. I hold couple of calls for next week. Good Luck.
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