PTON long on Precor acquisitioin
If the basis is that people were working out home that's why Peloton has been up, I would asked you to challenge that notion based on their acquisition of Precor who makes most of the treadmills, ellipticals and other equipment you can find in your favorite gyms and rec centers.
Decent support area shows consolidation as well and this serves as a pullback area to get back in on a stock has been moving successfully.
MACD isn't the best looking but still where it will be okay
Keep in mind that the basis of these analyses and trade or hold concept rests heavily on risk management so a decent reward/risk ratio of 1.75 means that even if we are wrong on both fundamentals and technicals, overall the loses are collectively less than the wins.
Decent support area shows consolidation as well and this serves as a pullback area to get back in on a stock has been moving successfully.
MACD isn't the best looking but still where it will be okay
Keep in mind that the basis of these analyses and trade or hold concept rests heavily on risk management so a decent reward/risk ratio of 1.75 means that even if we are wrong on both fundamentals and technicals, overall the loses are collectively less than the wins.
Comment:
Will keep an eye on this one for sure as I've read some news of PTON being the next big WSB short squeeze. Either way, we will look at it from a technical probability and risk management perspective. That means waiting for an upward move form support.