if the bearish line is at 8.64, then the suggested targets are as follows:
Target 1: 8.38 Target 2: 8.17 Target 3: 7.94 These levels indicate potential price points where a bearish movement may occur based on the given data. Please note that market conditions can change rapidly, and it's important to conduct thorough research and analysis before making any trading decisions.
*In addition, based on the daily candlestick chart, there is also a bearish engulfing pattern observed. This pattern typically indicates a reversal of the previous bullish trend and suggests further downside potential for PTON. Combining this pattern with the mentioned bearish line and targets, it reinforces the bearish sentiment for the stock. As always, it's important to consider other factors and perform your own analysis before making any investment decisions.