Must keep a close watch on PTON heading into earnings in a few week. Has made a nice recovery after being beaten down on bad news. However in a very difficult spot, as it failed to make a higher high on the daily timeframe, and could be looking for one more move lower to flush retail out before making an earnings run. This is one of the rare times I will look for a hold of the .786 retracement for a bounce. Should it go lower. Completely invalid on a daily close below $113.
Trade active:
dip came and was bought. Played out as it should have
Trade closed: stop reached:
trade invalidated. Will publish new idea heading into earnings