[Trade Of The Week] $PTON

JC Parets
June 16, 2020

Last night was our Live Video Conference Call that I host for Premium Members every month. We went over the entire global macro landscape and then drilled down to individual stocks that I think are the best vehicles to profit in the current environment.

One of the areas we continue to like, and continues to pay well, is Internet Retail. The relative strength and positive momentum coming out of these stocks has been off the charts for months.

A nice clean setup in the space is Peloton. I like how prices have been consolidating below their 161.8% extension and ready for their next leg higher:

I like $PTON long if it is above 49 with a target above 68. This price target represents the 261.8% extension of the entire 2019-2020 consolidation. That's where I think it's going.

This idea is taken directly from last night's Premium Monthly Conference Call. You can find the video of the entire call along with the rest of the trade ideas here.

Please let me know if you have any questions!

JC

 

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