PTON Chart - Idea: Iron Condor PTON closed on 10/21 @ $124.30. Could possible go down to $115, $97 or up to $130 depending on if it holds support level of $123.77.
PTON trade ideas
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 continuation pattern.Peloton showing testing of its support levels.
NASDAQ:PTON
In danger to falling under its bull upward pattern. Volumes have been decreasing steadily so i would like to see this keep going but i feel like it has reached its top price of 139-139.90.
Support at 126.50-127 and if it breaks lower, it could test 125-123-120.
For short term traders, this would not be good but for the long term investors, a great entry would be any price under $120 imo.
Curious to see how this plays out.
Impeccable run by $PTON thus far!!
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PTON SHORT!!!! BEARISH WEDGE PATTERN ALMOST COMPLETEDPTON has had a spectacular run. From the Low in early September at $72, the price has nearly doubled!
It appears that there is now a very high probability of a reversal, and PTON will retrace the move from March, 2020.
We expect PTON to have a 32% to 38% correction, bringing the price below $100 and most likely into the $80 to $90 area. This could happen within days or perhaps play out over the next couple of weeks.
There is some potential for upside to $144, however it appears as though PTON could complete it's pattern along the upper trendline in this BEARISH WEDGE (ENDING DIAGONAL), which is currently around $139.
Looking to purchase November Expiry Put Options: 120s, 115s, 110s,
Peloton Now Worth $38 Billion - Weekly ChartI think Peloton has created a great exercise bike. And some novel new ways to watch workout videos on your phone. It recently hit all-time highs and has been spiking higher. Its market cap is now $38 billion.
I am a fan of technology, growth, and change. But I also know that as a society we have been making exercise bikes for 30+ years. This is not the first exercise bike to hit markets and it won't be the last. Sure they built some subscription models on top of it, but quite frankly, every other bike can do that as well. So can the gyms. So can the apps that track runners.
It will be interesting to watch going forward and the brand is quite strong. Could it go to $60 billion? $100 billion? What's next? I'm not sure, but I would wager that the stock needs to calm down before it rides higher again. I don't have a trade on it yet, but am watching closely. I marked some levels on the chart.
$PTON - Bull case Target $146.5 & Bear case Target $125$PTON is in parabolic trading pattern where it may be due to for a one last pump $146-$151
Check the below scenarios:
Bull Case: Double Bottom -> First Target - $146.5
Bear Case: Head & Shoulders -> First Target - $125
I hold $144 call for next week.
Good Luck.
$PTON #moon <--- sarcasmI mean, honestly....
Newton's law of Gravity will apply here at sone point...
Meanwhile the weekly calls go 2-5x on a given day if you BTFD and play 5min bull flags
Consider:
Oct16'20 monthly OPEX and it'll pin somewhere?
Earnings on Nov 3 - hard to think that after a run from $72 to almost $140 it will experience a pre-ER ramp.... Probably needs to cool off for that to happen
Nov20' O/I seems to be gravitating around the $85s
200ma on 60min offers great support around 100
Daily 50ma and Weekly support levels come in around the 85-90 level
$PTON - End of Parabolic Curve! First Target $125$PTON performed parabolic trading pattern which hit $140 & kudos to who ride this curve.
First downside target (Head & shoulder pattern) - $125
Good Luck.
$PTON Head Traps & ShouldersLooking like the start of the collapse on PTON here, now of course its "Head n Shoulders" but we got an exercise bike, so of course this guy is gunna be bulked up with some nice shoulders with some firms trapezoids, am i right? those traps would equate to the buying power of the dips and the triple entendre a literally bull trap waving the red cape, but this guy has to get off the bike at some point for a breather before a likely good Earnings Run. Scouting a Wave 4 retrace here... also stochs are starting to turn down. happy trading :)
PTON Completed wave 3 of 5.Peleton has been on an absolute tear lately, I am anticipating a pullback sometime soon (Wave 4) where I will then proceed to go long with a target of profiting off of wave 5 to new ATHs.
WARNING: This has had crazy momentum recently and I would not be surprised if it were to continue its trend upwards without stopping significantly for a while.
$PTON Even Beasts Need SleepStraight forward here, this has been ON FIRE, just blowing it out the water, I picture everyone and their mother in an NYC Condo/apartment has had one purchased for them by their rich yuppie husband to stay fit and they get in on it too. While the man buys the stock and the wife gets the bike. But lets see... PTON has now surpassed it 1.618 ext on W3 and pushing the 2.00 - we know wave theory isn't exact and W3 can also run to 2.618 > here it's 144. Honestly, I think this is totally probable, maybe even 150! but it appears to be heavily institutional purchasing and I'm sure THEY have a number and once it hits she's going down. I've made a few bucks on the way up and now I'm going to try the flipside. looking for the W4 retrace of .382, .50, or .618 my sell targets are 120-115. I think she should retrace before ER. Hourly and Daily Stoch's heavily OB, but likewise can carry that momentum, only takes a few ppl to roll a snowball of gains down a hill... beware
Peloton, Healthy StockPeloton stock soaring post IPO during Pandemic. Learn more about the Peloton Story here: www.stitcher.com
PTON About to have a bike accidentDaily+Weekly TD9, Trendline + a=c linear fib completion. RSI+Volume divergence to boot. Peloton looks ready to roll over. I am short
PTON - GP SupportBlue Channel Resistance - Scouting for the consolidation - may take a couple more days. Put spreads are manageable. Long term, if the market keeps melting up my bet is so will the stay-at home plays. This could be a chance to win bear and then flip to bull.
PTON - Mean Reversion, Trend Join, Price Action - 10.11.20PTON - Mean Reversion, Trend Join, Price Action - 10.11.20
$PTON - End of Parabolic Curve? Sell Point at $119?$PTON performed parabolic trading pattern which hit $119 & kudos to who ride this curve.
Now $120 needs to be breached to go any higher otherwise it out of the gas and Sell-off has been triggered.
Good Luck.
