Peloton Interactive, Inc. (PTON)
By Tue, Oct 6, 2020
Hey there,
Since then, it’s soared to $110.
Now we’re seeing another lucrative buying opportunity for us in today’s Chart of the Week.
PTON has worked for us before, and is expected to deliver again.
The stock is trading around $110 right now, and we like it anywhere above $100 with a price target of $150.
We’re buying on the pullback if PTON dips under 110 towards that $100 level, but remember that if it’s below $100, we don’t want it.
So once again, we are long anywhere above $100 with a price target of $150.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
