Peloton Interactive, has been in a strong “Go” trend, one that perhaps we should have all seen coming at the onset of global lock down. After rallying over 250% since the “Go” flag on April 8th we are seeing a pullback from the most recent high.
The GoNoGo Trend has painted a couple of paler aqua bars indicating slight weakness in the “Go” trend and this price action has caused the GoNoGo Oscillator to fall to the zero line. There is enthusiasm in general in this stock as we have seen heavy volume as price has run up to recent highs. We will look to see if the Oscillator can hold the zero line and find support there. If it bounces off zero we will see that as a resurgence in the current “Go” trend.