ThinkingAntsOk

PTON on the way to $200

Long
NASDAQ:PTON   PELOTON INTERACTIVE INC
Great chat to take a look at today "PTON"

-We can see the ascending trendline and the Support resistance zone as the two key elements to understand this chart

The Ascending trendline represents the asset's long-term bullish trend , and we can see how the price is accelerating and taking distance from it.

-The Support Resistance zone was the previous level in which a huge corrective structure was formed ( ABC pattern)

-After the breakout of it and a bullish impulse, we saw a corrective structure (smaller ABC pattern) finding support on the previous zone

-Now we had a breakout of the small structure, and we expect a continuation of the bullish movement towards 184.86 (First target in which we will move our stop loss to break-even) and then to the final target 205.5, where we will close our long setup

-The setup we developed was Entry above "B" and Stop below "C" (of the small corrective structure) / Break-Even and Take profit were explained on the previous items
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