$PTON Peloton Carrying a lot of optimism into earnings

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Lots of optimism amongst the longs coming into earnings and todays announcements
added more fuel to the rally.
It is noteworthy that todays rally stalled just below the previous high which hit the Fibonacci
1 - 2 -1 extension target.
This must now be considered as a significant resistance having held twice in recent days.
For those looking at higher targets $100 is a key psychological in confluence with the 2.628 Fib level.
Stop loss below 7ma
The RSI has room to run while the Stochastic is beginning to roll over.

Penafian

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