PTON

PTON
12/29/20 1D TimeFrame

Scenario 1
- Light pullback at the 13/21 ema area
- PTON is very bullish right now in light of increasing COVID19 cases across the US. Plus their acquisition of Precor is in my opinion a bullish move; it's a good way to promote the brand to health clubs, hotels, etc.
- with a light pullback at the 8/13/21ema area which also happens to be channel median, price can potentially hit 2nd target and hopefully rally to target 3 around top of the channel.

Scenario 2
- Healthy pullback at the 50ema area
- based on previous price movement, there is a good chance for PTON to touch 50ema area which happens to be at the bottom channel area before it starts rallying up again to target 1 & 2.

MACD - Seems to be converging and histogram shows upwards momentum is running out.
Stochastics - is at overbought level and seems to start pointing down.

Disclaimer
I do not know how the market will move tomorrow. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for practice, informational and entrainment purposes only as I am not a registered investment advisor and do not offer investment advice and recommendation. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.