PTON Long Setup
We've seen some of the COVID beneficiary stocks pan out quite well lately. Here is another that may have found bottom. MACD nicely improving.
Watch for it to work through $110 - $114.
First target is the $122 gap fill.
PTON trade ideas
Short-Term Support Zones for PTON as the Holiday ApproachesPTON looks to be deciding between these two channels in the short-term. The yellow box represents the current support zone that price is now testing. If this yellow zone doesn't hold support, the blue box (~$100) will be an important secondary zone of support, and could be an attractive zone for entering a long position. The green line in the chart represents a .612 retracement over the previous quarter's growth, and serves as an additional support zone in the near-term.
As the holiday season approaches and the coronavirus lingers on, PTON looks primed for some further growth this year. The biggest dilemma currently is that the company is struggling to meet demand for their current backlog, and is racing to build fresh manufacturing facilities to solve this problem. But the company may be well-positioned for substantial long-term growth as well.
Some analysts are pointing out that PTON has an advantageous position in the market, in comparison to other COVID winners such as Zoom, because their business model has promising room for growth even after a vaccine is distributed. PTON will most likely have high customer retention, simply because customers are "locked in" to the subscription service due to the high initial-cost of Peloton's equipment.
$PTON Bearish Swing Trade PlanGreen Line - Entry Target
Red Line - Exit Target
Pink Line - Stop-Loss
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PTON 11/23/20PTON had a nice rebound and broke the previous resistance of $103.20. This is now the new support and the new resistance is $115.89. It is approaching the 20 day MA and heading to the positive bias. There seems to be a lot of buying than selling today and could be the Black Friday anticipation and stellar earnings report. Watch for volume as this stock accumulates nicely.
Back at ResistanceShort to middle black line if can't break 112.
daily MACD doesn't agree with me so stop out if breaks and holds above that.
ABC BullishLooks like the media hype is putting some upside on covid stocks again.
Be safe and be sure you take heed when the world is normal again, if it ever is )o:
Stop goes under C as a rule
Possible T2 186.5 to 212 (long term
Just an observation
PTON target 130 for wave 3Another NAS stock I am currently long, target 130 and 150 for our bullish waves. Copyright Rohan Karunaratne 2020
PTON setting up nicely for a big weekPTON respecting the bottom of the broadening formation with a nice bounce, expecting a strong week.
ascending triangle + rising covid cases$pton follows the general covid play trend along with stocks like $zm, $docu, $roku, etc.
4 hr chart giving a buy signal on macd.
$PTON Peloton Interactive Potential Reversal Opportunity 🚲🚲
Long term trendline had held under the selling pressure.
Yet again these COVID stocks may become appealing.
Short term Reversal targets $110-$112
PTON Clearly marked.These levels look pretty clear to me. Being capped by clear overhead resistance, 50SMA and also looking for RS to confirm (or not). Time will tell.
PTON HYPEThe whole flock of chickens will be buying this. With negative cover news surely to come, pton will benefit.
Dunno??Be safe if in this one or if planning to get in, be sure you get a safe entry
Just an observation
