Is Peloton a fad? Who cares. Make moneyI 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.
1PTON trade ideas
ridethepig | A retrace in play for home fitness📌 Peloton
One of the aspects of consumer behaviour that has changed the most over the past few months has been the approach to fitness and home-enablers. As we introduced a deep and accurate buy approach it helped that Fed and other CB's helped to raise the bar even higher with their ambitious and methodical (right...) approaches.
So, as with many other improvements, the $2,000 coat hanger consists of a monthly subscription service which members can go through daily. However we would need to see consumers continue to cough up $2,000 for an exercise bike when the economy is tanking. We are certainly not ready for mass adoption and growth until the economy heals. Armed with a pair of trainers and one can produce the same outcome although I refuse to demonstrate illustratively ... maybe one day on Tradingview streams!
In any case, the format of the flow is quite simple. Throughout the impulsive leg it was a matter of letting bulls over-extend before finding a comprehensive fade.
As usual thanks for keeping the feedback coming 👍 or 👎
$PTON Peloton back on the reversal list
Will be looking for reversal trade on PTON this week.
Hit previous horizontal support and my rising Channel
trend-line on Friday.
RSI has worked of previous overbought conditions.
Main concern is the loss of Moving averages as support.
Next major MA is the 50ma in the $50 region.
Stock thrives on bad COVID news so lets see how it reacts to
the Lancet Report on Monday
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PTON $81.90 by the end of July?!?! (BULLISH?)If the days are still green, I believe we are in the middle of wave 3 before a big retracement! We currently peaked at the (pink) wave 3! Maybe we will see a minor retracement to (pink) wave 4? I'm still a noob, so I'd appreciate any feedback! Practice makes perfect or something like that =) Happy trading friends!