4PTON trade ideas
Peloton Bullish Gap FillPeloton is looking to fill it's gap from earnings, as investors are aggressively buying the dip.
PTON on watchJust broke above resistance. Would prefer an entry on a slight pull back to the bottom of the box. Could also enter on break of the top of the box. Risk would be close back below box. Targets are the dotted lines.
PTON is a buy @ the $92-$94 rangeUncertainties regarding the future impact of COVID have not faded despite positive vaccine news. More Americans are exercising from home and buying Peloton products. Peloton is still a solid buy, especially as we head towards the holiday season. It's a buy but with consideration of technical factors. There's strong support around the $92-$94 area. This area gives bullish traders value.
Was Hoping this is Finally Bullish But...Possibly forming a rising wedge pattern, short at around 120~122 (where reliable thick black line is) if it can't break. Currently in short term calls from 112 to around 117 for some swing trades.
This also was a long-awaited breakout a couple days ago so might just be due for a retest before breaking back up again.
PTON Gap FillPTON is curling up with the moving averages at its support. It is looking like it going to continue its upward trend to fill the gap in its chart to the 122 level. I crack below the moving average support would trigger a sell
$PTON short term targets$PTON 4h Chart
$PTON approaching next targets. To see higher it is critical we maintain 116
Target above is 117.80, but the main target I would love to see hit and reverse at is that juicy level of 121.50
Target zone will act as a strong resistance
Finishing lower degree wave 5, in intermediate degree wave 3
$PTON - RSI Diverging From Trend$PTON seems ready to break out. RSI divergence. Breaking out of pitchfork. Unfortunately can't get in to this one right now.
PTON Long Setup
We've seen some of the COVID beneficiary stocks pan out quite well lately. Here is another that may have found bottom. MACD nicely improving.
Watch for it to work through $110 - $114.
First target is the $122 gap fill.
Short-Term Support Zones for PTON as the Holiday ApproachesPTON looks to be deciding between these two channels in the short-term. The yellow box represents the current support zone that price is now testing. If this yellow zone doesn't hold support, the blue box (~$100) will be an important secondary zone of support, and could be an attractive zone for entering a long position. The green line in the chart represents a .612 retracement over the previous quarter's growth, and serves as an additional support zone in the near-term.
As the holiday season approaches and the coronavirus lingers on, PTON looks primed for some further growth this year. The biggest dilemma currently is that the company is struggling to meet demand for their current backlog, and is racing to build fresh manufacturing facilities to solve this problem. But the company may be well-positioned for substantial long-term growth as well.
Some analysts are pointing out that PTON has an advantageous position in the market, in comparison to other COVID winners such as Zoom, because their business model has promising room for growth even after a vaccine is distributed. PTON will most likely have high customer retention, simply because customers are "locked in" to the subscription service due to the high initial-cost of Peloton's equipment.
$PTON Bearish Swing Trade PlanGreen Line - Entry Target
Red Line - Exit Target
Pink Line - Stop-Loss
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