looks like a stock with a healthy uptrend. Dont know anything about the company but the pull back looks textbook with an impulsive move up followed by descending compression into support. Think that the probabilities are good that we rebound from this zone. (This specific level is nice because it has a lot of confluence with it being below many swing lows--> AKA...
Part of my ongoing analysis of Peloton price action (see links below).
Peloton appears to have stabilized a bit, but likely has one more drop to come.
The perfect 5-wave uptrend is going through the requisite 3-wave correction.
Wave C most often goes further than wave A, so am expecting lower lows.
It is POSSIBLE that correction is done, with the $30 round...
Follow up to my previous plots (see links on chart or below).
PTON was at natural "End Points" for several waves moving upward.
And surprise surprise, Social Media attack hits and knocks it down.
The bounce looks impressive on paper, but may be just a Bull Trap.
The rise was a clear 5 part move, or a "12345 Impulsive Wave".
Most corrections are 3 part moves, or...
Followup to my first map for PTON topping zones (click) .
So we peaked exactly as expected and are retracing now.
First leg down could have been just market wide pressure.
But second leg down is on a positive day for most indices. (uh oh)
Plotted EW paths are just GUESSES as to the retrace.
But the ZONES are SOLID and each will cause a reaction.
So we now we...
This correction is a nice opportunity to get long here. We should see price action reverse course soon and the 37.13 level should be achieved to the upside in the next few weeks.
This looks like it has a little way to go before a breather is in store. New IPO very volatile and who knows but this is starting to get overbought and should pull back soon.
Plot to study this asset's behavior around key Fib multiples.
Is this one of the few IPO's with immediate success this year?
Or is it about to run out of steam and wither away like many?
I know what you are thinking of the chart above:
"Draw enough lines and some will hit every time".
My goal is to study the price action at each zone.
Some of these waves could...
The 2.0 Fin expansion target was hit today and the stock has retreated.
Despite upgrades, large short interest and heavy call buying this may a good time to cash in as the stock is overbought and could be source of some profit taking into the year end.
Unusual options
Peloton Interactive call volume above normal and directionally bullish Bullish option flow...
Peloton has miraculously revitalized the Trend of In-Home Aerobics crap
You all remember the 80s-90s when Mom and Dad spent a fortune on crap they only used for a year or less?
Yep we are seeing it again, This time its with the Credit Card everything generations.
Very big bubble, could inflate much higher - like Pot Stocks or Impossible Meat
The stock has a enormous short interest which could help the stock rally but maybe this earnings report is not strong enough for them to through in the towel.
Average analysts estimate BUY | $30.85
Seeking Alpha article
Peloton Interactive (NASDAQ:PTON) reports connected fitness subscribers rose 103% in Q3 to expand the total member base to over 1.6M.
The company...
