PTON Riding HighPTON looks ready to break through resistance and move higher after a strong showing today. The 50 EMA has come down to the 200 EMA and is just starting to turn back up.
Pton
As requested, we'll study PTON today!As a request from my buddy @ke-3a, I’ll analyze PTON today!
In the 30min chart it did break the 104.50, a pivot point, and reversed the sentiment nicely. Now, it may seem PTON just hit its target at 110.56, and is starting to look overbought again, as the RSI is quite high too.
But this is not true in the 4h chart. The chart is pointing up, and the momentum seems good. We have a line connecting the bottoms in red, the 20ma is a support too, and the most interesting part: PTON hit the $ 102.56 and it is going up again. The 102.56 was a resistance a few days ago.
The problem is the RSI that did an advanced breakdown. So, if I had PTON, how would I proceed?
A correction in the 30min is expected, maybe to the 107 again, but it must not break the 102. If this happens, we’ll see a head and shoulders + advanced breakdown, and I would just get out of it.
But the 113.91 is another pivot point, and if PTON breaks it, the 125 is our next stop. I would hold it and look at these points.
I hope it helps! If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
PELOTON Interactive expected stocks movement!Hi every one
PTON
So this the chart of PELOTON Interactive stocks .this company make sports gears! as you can see this instrument has been in a falling wedge for a good amount of time but now this pattern has been broken and the price has done It's pullback to this pattern's upper line.we think that this stock's price has the potential to reach the top of the wedge once again. recently there has been positive news for this company so there is a good chance that the price would Increase to the top of the wedge pattern.
Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad.
Thank you for seeing idea .
Have a nice day and Good luck
PTON Head and ShoulderPTON broke through the downside from a H & S pattern during the news about the treadmill recall. More recently it bounced back to retrace and touch the neckline break. Now it seems it is ready to continue lower. The treadmill recall issue looks like it will hurt the company's earnings, giving more weight to this pattern playing out.
PTON Descending Wedge... Q1=91.97, Q2=80.63, Q3=71.96The title pretty much says it all... long term back to 100s and higher :)
NASDAQ:PTON
PTON Short EntryOh Pelaton. What a ride you had :) This stock started last year (2020) at around $27 a share, rising up to $170 just 12 months later. It's time for a correction. And, although I'm not a fundamental expert/trader, I believe there's a case to be made here. First, let's look at the charts.
Technical Basis - Daily Chart
Let's start with the Daily chart. There are quite a few things happening right now in this chart. Let's start with the moving averages. The first red arrow below points to the crossing of the averages. With the 200 period on top and the 20 period on bottom, we are in a perfect situation to enter a short trade.
Next, we have the diagonal trend line that'd been respected for a few months now. We're right at that level, with the Stochastics up in overbought territory. Great second sign of a solid short entry.
Going on, we see a bit of a support/resistance zone around $100 (my line is at 99.88). Price has respected this a bit, and we're back at that level. On the short side, this is a bit of a break and retest entry, and I am expecting this to fail downward.
Finally, my favorite part is that the horizontal support/resistance line is currently crossing the trend line. This is a great place to enter a trade. When two of my lines cross on a chart, its a confluence of lines, and likely to be a point where price bounces.
Technical Confirmation - 4H Chart
For furher insight, I pulled up the 4H chart. Now, this isn't a perfect entry or setup by any means, but it's decent confirmation. Price has tested the upper Bollinger Band, and Stochastics are in overbought territory. Again, a great place to enter as the current candle is showing a reversal pattern together with the previous two.
Fundamental Thoughts
As mentioned, I don't look deeply at balance sheets or company politics. Fundamental investing is not my game, and I don't pretend to be good at it. However, there is one thing that comes to mind. The pandemic is getting better in many countries, and people are beginning to go outside. Gyms are re-opening, people can run/bike outside, and although Pelaton built a huge customer base, I don't think purchases and revenue will rise at such rapid rates. Just my two cents there.
My Trade
So, there are many ways to get into this trade to make money. You may not be able to short the stock, and that's okay. I often don't short stocks myself. Instead, I'm going with a Vertical Put Spread option on this one. I am doing a 18 Jun 21 spread at 97 and 94 strike prices. The premium I paid came out to $90/contract, with maximum gain of $220 (not including commissions). My breakeven point at expiration is just about $76 for PTON.
Further Downside for PTON?We are now around a 50% retracement level from the previous impulsive move down and coinciding with the overall trendline. Watch for bearish candles on the LTFs for possible short opportunities.
Pelaton - Long Opportunity - What about Recall & Earnings!?Pelaton Opportunity..
They did have a recent recall on their treadmills which caused more dump in price, it was already dumping to begin with.
Earnings now.
Currently trading at under half the price from all time high - time to keep greed in check.
Head & Shoulder pattern played out, dump ongoing..
With the 200MA forming right at the .618, which we're currently at I wouldn't mind laddering some buys down for a potential swing in the near future. Decent risk to reward considering the amount of price history above current level.
Good luck!
PTON setup for a potential 40% dropHead and shoulders playing out with the right shoulder half formed .
Wait for a break of the neckline and a candle close outside of the neckline /*Resistance before shorting
alternatively you can also wait for the back test of the Neckline and upon rejection open Short .
SL placement above the last swing high .
Point of control is a match for the move to the downside as a further confluence.
200EMA will also create a slow down in the move to the downside
Set a price alert around the $100 region and await the reaction at the Neckline .
Always use a SL and know your Invalidation
Like and Follow for regular setups Much appreciation
$PTON is a cyphercypher harmonic pattern:
AB=0.38 XA
BC=1.42 AB
tp1=1.27 BC=$76
tp2=0.78 XA=$60
tp3=2 BC=$48
PTON sell Head and shoulders pattern shown reversal in the trend. Starts with a bearish engulfing candle with subsequent confirmation candles of the downtrend. Consolidates and gravestone doji signals another bearish move to the downside. Price has broken the support level to confirm the head-and-shoulder pattern for a further downside move.
PTON could be headed to $35Exercise fads never last. PTON is no exception. With the world re-opening, people want to go outside again and exercise outside (just my opinion).
Looks like a massive head and shoulders topping pattern, with potential targets of $70, $50, and $35.
Do your own research, this is not investment advice
PTON at Crucial Support Level Ahead of Earnings!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 proceed for the upcoming month(s). As of right now, the earnings call could go either way, but I am leaning more towards PTON falling short of expectations. If the earnings call is able to pull the price down below the neckline, then I will most likely open a short position on the stock. If the earnings call pushes the price above the right shoulder's peak, then I may or may not be looking to enter a long position. My decision on the long position will depend on how well PTON is able to resolve the issues that have risen around the country involving their treadmills.
I will update this idea with my position on this idea and stock after the earnings call on May 6, 2021 after-hours.
PTON 7-Month Head and Shoulders Pattern FormationI 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 pattern and the sell signals from a multitude of indicators coupled with the recent concerns about the safety of Peloton treadmills provides a golden opportunity for investors looking to make some money on the strong downtrend that this stock will potentially experience.
Currently, I am waiting for the breakout below the neckline for confirmation of the H&S pattern to open some more put positions. I will update this idea with more information as price action continues to flow.
Please like this idea if it was helpful and let me know how I can improve my ideas! I am always looking to better my techniques and analytical skills, so I welcome any constructive criticism. I will be posting many more ideas in the future, so consider following if you would like to see them. Happy trading, everyone!
