Pelaton - Long Opportunity - What about Recall & Earnings!?Pelaton Opportunity..
They did have a recent recall on their treadmills which caused more dump in price, it was already dumping to begin with.
Earnings now.
Currently trading at under half the price from all time high - time to keep greed in check.
Head & Shoulder pattern played out, dump ongoing..
With the 200MA forming right at the .618, which we're currently at I wouldn't mind laddering some buys down for a potential swing in the near future. Decent risk to reward considering the amount of price history above current level.
Good luck!
1PTON trade ideas
PTON setup for a potential 40% dropHead and shoulders playing out with the right shoulder half formed .
Wait for a break of the neckline and a candle close outside of the neckline /*Resistance before shorting
alternatively you can also wait for the back test of the Neckline and upon rejection open Short .
SL placement above the last swing high .
Point of control is a match for the move to the downside as a further confluence.
200EMA will also create a slow down in the move to the downside
Set a price alert around the $100 region and await the reaction at the Neckline .
Always use a SL and know your Invalidation
Like and Follow for regular setups Much appreciation
Path Prediction for PTON before/after Earnings CallI think the market overreacted a little to the news of PTON recalling treadmills and believe that PTON will rise up to the neckline of the Head and Shoulders pattern (refer to my last two posts) before crashing down. The stock is oversold on the 1H chart, along with the 1D chart and will be rising back into the BB channel in a few hours, most likely. I believe PTON will beat earnings estimates tomorrow, giving it the short boost that will propel it back to the neckline. Upon resistance rejection, the share price will drop and the short opportunity will hopefully present itself.
I will keep this and my last post updated with my current position on the stock. Happy trading, everyone!
PTON sell Head and shoulders pattern shown reversal in the trend. Starts with a bearish engulfing candle with subsequent confirmation candles of the downtrend. Consolidates and gravestone doji signals another bearish move to the downside. Price has broken the support level to confirm the head-and-shoulder pattern for a further downside move.
PTON could be headed to $35Exercise fads never last. PTON is no exception. With the world re-opening, people want to go outside again and exercise outside (just my opinion).
Looks like a massive head and shoulders topping pattern, with potential targets of $70, $50, and $35.
Do your own research, this is not investment advice
Peloton potential short opportunity A great run for Peloton but after breaking an aggressive uptrend late February it looks like it could be forming a huge Head & Shoulders pattern. The price has corrected up to the 38.2 Fibonacci level after this years drop from the highs seen at the end of 2020. Potential short back down the neckline and support around 95.
Head and Shoulders/Ugly TopThis pattern does not perform well in a bull market, and performs best in a bear market.
Some would just call this an ugly top, or a complex head and shoulders pattern, as there are multiple shoulders. The complex variety can have multiple heads and/or multiple shoulders.
This is a tall structure. The neckline is a source of Strong support until it is broken with conviction.
PTON has pierced the support of the neckline, but was a brief piercing and price is now floating above the neckline. The pattern is not valid unless neckline is broken and a downtrend is in place. The neckline can be horizontal or it may slope.
Head and shoulder tops are reversal patterns so there needs to be a prior uptrend to reverse.
I would be very, very, very safe if I were in this long right now. These patterns can have pull backs (pull ups), a break back up can be a pull back in a downtrend. Good to be careful if you are long or thinking of going long and you see an ugly top.
I have noted that in a lot of cases, securities go down much slower than they go up. In other cases they drop like a bomb, but can stay in recovery mode down at the bottom for a very long time requiring patience that is hard for me sometimes. But I am working on it (o:
No recommendation.
I reposted this for clarification. Go with your gut (o:
PTON at Crucial Support Level Ahead of Earnings!A week ago, I posted a short idea on PTON with the Head and Shoulders pattern as my reasoning. That idea is still active, but I will be looking to this week's upcoming earnings call for confirmation of the pattern. The neckline of the pattern (~$95) is a critical support level and the earnings call will ultimately choose the direction in which the stock will proceed for the upcoming month(s). As of right now, the earnings call could go either way, but I am leaning more towards PTON falling short of expectations. If the earnings call is able to pull the price down below the neckline, then I will most likely open a short position on the stock. If the earnings call pushes the price above the right shoulder's peak, then I may or may not be looking to enter a long position. My decision on the long position will depend on how well PTON is able to resolve the issues that have risen around the country involving their treadmills.
I will update this idea with my position on this idea and stock after the earnings call on May 6, 2021 after-hours.
Head and Shoulders/Ugly TopThis pattern does not perform well in a bull market, and performs best in a bear market.
Some would just call this an ugly top, or a complex head and shoulders pattern, as there are multiple shoulders. The complex variety can have multiple heads and/or multiple shoulders.
This is a tall structure.
PTON has pierced the support of the neckline, but was a brief piercing and price is now floating above the neckline. The pattern is not valid unless neckline is broken and a downtrend is in place. The neckline can be horizontal or it may slope.
Head and shoulder tops are reversal patterns so there needs to be a prior uptrend to reverse.
I would be safe going long right now. These patterns can have pull backs (pull ups), a break back up can be a pull back in a downtrend. Good to be careful if you are long or thinking of going long and you see an ugly top.
No recommendation.
Possible Targets 1 46.4 33.5
$PTON 7 Months Head & Shoulders TopWith earnings this upcoming week, its sink or swim time for Peloton with potential 7 months head and shoulders top.
Stock is in a serious risk of entering stage 4 distribution phase. A decisive break of neckline support around $95 should confirm the breakdown. Subsequently, a decisive close back over $125 (above right shoulder), should re-affirm the stock uptrend and trigger the next leg higher.