The inverted H&S pattern I drew up a while ago appears to be playing out. Short squeeze like that BS buyout talk (highlighted). I didn;t adjust anything, just reposting, lol.
No position, maybe wind up shorting this at $20
🔸️Ticker Symbol: $PTON timeframe: 4H 🔸️2X Bear Pattern 🔸️Investment Strategy: Short
TECHNICAL ANALYSIS: So many reasons to play it short with $PTON; no one from the company has bought in their own company, at all this year. The last 4 of 5 ER were a loss; regardless of the deal with AMZN, this report (from last quarter) is likely not going to have a great...
is it time for the PTON revival? who knows, seems like were about to get a little jump probably see the rejection from green since noones buying these useless things anymore. I would be major bullish if they come out with an electricity hamster wheel one.
Looking at the PTON Peloton Interactive options chain, i would buy the $12.5 strike price Calls with
2022-8-26 expiration date for about
$0.81 premium.
Looking forward to read your opinion about it.
we saw $coin do this same exact pattern not too long ago, it broke right back into consolidation, so longs please trade with caution!
in a longterm bearish channel as well, there is still some upside within this channel (18-21 lvls)
Well, the new CEO is doing what I said needed to be done. Huge cost cutting moves instead of wishful projections on user numbers like the previous CEO.
Short interest declining on the short squeeze, I think it's setting for for an inverted H&S pattern. Long term I'm still bearish and I think they go bankrupt, but it's gonna take a lot longer now that they have...
AMC, W, BYND all remind me of that quarter where PTON went up despite crap earnings. Fake buyout rumor was "the news", but basically just too many people trying to short earnings because they know the company is losing money.
Gonna wait until Wed to short garbage stocks, CPI coming out premarket.
This is a great candidate for a buyout, perhaps from Apple.
Their business is strong regardless of the tanking sales, due to the subscription model.
Let's see if we've bottomed out here.
If daily can hold above 11.20, likely that this tests 16 level soon. My guess is that it spikes to 12.5/13 to set up for 16. On watch...no position yet.
Peloton
Short Term
We look to Sell at 10.90 (stop at 11.76)
Expect trading to remain mixed and volatile. The medium term bias remains bearish. Trading within a Bearish Channel formation. Selling pressure from 11.40 resulted in all the initial daily gains being overturned. Preferred trade is to sell into rallies.
Our profit targets will be 8.94 and 8.30...
Peloton
Short Term
We look to Buy at 8.83 (stop at 8.07)
Expect trading to remain mixed and volatile. Due to an Ending Wedge formation, we continue to treat extended losses with caution. Dip buying offers good risk/reward. Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets will be 11.28 and 13.49...
Finally some good news for PTON, they're actually reducing their cash burn like I said they needed to.
I might play the bounce if it reaches my final $7.5 target, not worth playing with in this bounce zone. Crossing this off my short list though.
Peloton
Short Term - We look to Buy at 8.66 (stop at 7.14)
We are trading at oversold extremes. Due to an Ending Wedge formation, we continue to treat extended losses with caution. Dip buying offers good risk/reward. Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets will be 12.95 and 15.00...
No need to update this I'm just reposting my chart, lol. Lines were all in the right place. Those lines are resistance/support lines, and played out correctly.
This is why you chart stuff before trading. Probably gets a bounce with the market, but good possibility it hits my $7.5 target by the end of the month. I'd wait until it gets below $8 if you plan on...
PTON broke the pennant formation, super bearish.
End target is $7.5 to $9 depending on if you draw this as a pennant breakout or bear flag. In any case it's headed to single digits, almost guaranteed, just a matter of when.
I expect a bounce at $11.25 support when it gets there. Last time it tested support it managed to hold it for a day so there's a chance...
Peloton
Short Term - We look to Buy at 11.87 (stop at 11.05)
Preferred trade is to buy on dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Previous support located at 12.00. We look for a temporary move higher.
Our profit targets will be 14.31 and 15.49
Resistance: 14.50 / 15.80 / 24.50
Support: 12.00 /...
When PTON breaks this pennant it's headed to single digits.
It could coil until it hits the tip of the pennant but I'm doubting that. If it does then I'm loading the freakin boat on puts.
