If you have been watching the PTON chart for the past few weeks and/or been following my ideas over the past two weeks, you would have seen the head and shoulders pattern materialize/activate. However, earlier this morning, a new pattern entered the mix! As you may already know, it is very common for the price to come back up to the neckline of the H&S pattern...
I think the market overreacted a little to the news of PTON recalling treadmills and believe that PTON will rise up to the neckline of the Head and Shoulders pattern (refer to my last two posts) before crashing down. The stock is oversold on the 1H chart, along with the 1D chart and will be rising back into the BB channel in a few hours, most likely. I believe...
A week ago, I posted a short idea on PTON with the Head and Shoulders pattern as my reasoning. That idea is still active, but I will be looking to this week's upcoming earnings call for confirmation of the pattern. The neckline of the pattern (~$95) is a critical support level and the earnings call will ultimately choose the direction in which the stock will...
I have been monitoring PTON for a little while now and recently bought some puts on the stock. There is a massive Head and Shoulders pattern that has been formed over the course of 7+ months, starting in late September 2020. This stock was looking bearish when I opened the puts, as can be seen with the MACD crossover and many other indicators. The H&S chart...
Cup and Handle formed for AAPL and price breakout of handle is materializing, so I believe that this would be a great entry point for anyone trying to buy in! Please let me know if you have any questions or comments.
