Is Peloton a fad? Who cares. Make money
I know some people not touching PTON stock because they think it's a fad.
Lucky for us technicians, it's irrelevant.
We know our risk. We know our target. We know how to manage the position. All without having an opinion.
I prefer staying away from fundamental hot debates, but to me this is obviously not just a bike company. They've built a brand that everyone talks about... That every influencer on Social posts about. Everyone I know knows about them... and I know about this little pandemic that's making it really hard for me to go to the gym.
So I don't know if the company will have this brand power 5 or 10 years from now, but I know the price of the stock is in a clearly defined and tradable range.
Lucky for us technicians, it's irrelevant.
We know our risk. We know our target. We know how to manage the position. All without having an opinion.
I prefer staying away from fundamental hot debates, but to me this is obviously not just a bike company. They've built a brand that everyone talks about... That every influencer on Social posts about. Everyone I know knows about them... and I know about this little pandemic that's making it really hard for me to go to the gym.
So I don't know if the company will have this brand power 5 or 10 years from now, but I know the price of the stock is in a clearly defined and tradable range.
Comment:
Went long at blue. Risk is the red line
Comment:
Nice reversal off the entry
Trade closed manually:
Taking gains here.