PTON, Breakout Setup for PT 169
Updated
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 advisor. All trades idea are shared for educational purposes only. All advice is based on technical and my own opinion.
Buy Area: 139
PT: 169
SL: 129.37
Disclaimer: I"m NOT a financial advisor. All trades idea are shared for educational purposes only. All advice is based on technical and my own opinion.
Note
After the news of acquiring Precor, stock moving aftermarket hour about 7-8%. This news gives more strength to this setup now. Try to buy around 144.73 area.Note
Original trade idea worked as predicted. It's moving toward the nearest support area 137-138.
Related publications
Disclaimer
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.