PTON's price action has triggered a quarterly MSB setup, indicating a probable bullish expansion. A trendline is also due for a retest, presenting an excellent low-risk opportunity for a discounted entry.
There is a key observation zone between $15 and $17, which may act as resistance. This level represents the equilibrium point of a quarterly bearish breaker, and reclaiming this region is crucial for reversing the prevailing downtrend.
Notably, the initial algorithmic targets of the candle currently governing price action are in confluence with the critical level mentioned above. However, it is expected that at least two algorithmic channels will be tested in the near future.
Not financial advice.
There is a key observation zone between $15 and $17, which may act as resistance. This level represents the equilibrium point of a quarterly bearish breaker, and reclaiming this region is crucial for reversing the prevailing downtrend.
Notably, the initial algorithmic targets of the candle currently governing price action are in confluence with the critical level mentioned above. However, it is expected that at least two algorithmic channels will be tested in the near future.
Not financial advice.
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