As requested, we'll study PTON today!

2021년 6월 7일

As a request from my buddy ke-3a, I’ll analyze PTON today!

In the 30min chart it did break the 104.50, a pivot point, and reversed the sentiment nicely. Now, it may seem PTON just hit its target at 110.56, and is starting to look overbought again, as the RSI is quite high too.



But this is not true in the 4h chart. The chart is pointing up, and the momentum seems good. We have a line connecting the bottoms in red, the 20ma is a support too, and the most interesting part: PTON hit the $ 102.56 and it is going up again. The 102.56 was a resistance a few days ago.

The problem is the RSI that did an advanced breakdown. So, if I had PTON, how would I proceed?

A correction in the 30min is expected, maybe to the 107 again, but it must not break the 102. If this happens, we’ll see a head and shoulders + advanced breakdown, and I would just get out of it.

But the 113.91 is another pivot point, and if PTON breaks it, the 125 is our next stop. I would hold it and look at these points.

I hope it helps! If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.

See you soon,
Melissa.