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Lanmar
Jul 30, 2020 7:13 AM

Is Peloton a fad? Who cares. Make money Long

Peloton Interactive, Inc.NASDAQ

Description

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.

Comment

Went long at blue. Risk is the red line

Comment

Nice reversal off the entry

Trade closed manually

Taking gains here.
Comments
kosai19
Very nice technical trade!
Lanmar
@kosai19, Thanks! It's been a while Kosai! Hope all is well!
kosai19
@Lanmar, Yeah, all is well. I still follow all your posts even though i don't comment that often =)
Lanmar
@kosai19, awesome, glad to hear :)
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