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The Distribution has started for Peloton stocks“Good performance ... Earnings are higher than expected .... the number of subscribers has doubled…. the company has benefited from the coronavirus ... it will hit 100 soon ... blah blah blah blah blah blah “ In recent days, we have seen an increase in activity on the Peloton Interactive PTON stock market. This activity is primarily due to the profits, which the company read about on September 10th. There is a growing uptrend in the background, and emotionally, ordinary investors from the public are looking to enter into longs. But from my point of view, it would be a rash decision, because we see signals of weakness on the chart. Black arrows point to supply bars (price accelerated from top to bottom on rising volumes). Professional traders use market buzz to distribute the maximum number of shares they buy far below $ 40 per share. And now they are recording a doubling of profits. And they closing longs around a top that is just beginning to form. What's next? I do not share the general optimism. While I support fitness and a healthy lifestyle, I also support informed decisions when buying stocks, so I highly expect a slowdown in growth. And the share price may decline until the end of 2020.
NASDAQ:PTON
by fintechzoom
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