Chart of the Day: Taking Peloton For A Ride

JC Parets
February 2, 2023

If you're short Peloton with the price above those former highs from the back half of last year, I think you're insane.

The squeeze is on here folks.

At last glance we saw 15% of the float was still short.

Look at this beautiful bottom and breakout:

The neckline of this bottom here is about 14-14.50 or so.

The relative strength is showing the exact same thing.

If $PTON is above that then we want to be long the stock with at target up near 30.

That's a heck of a risk vs reward, in my opinion.

Are you buying it?

We'll be discussing all of this and so much more on Monday night on our LIVE Conference Call for Premium Members.

Make sure to register here for that.

For any questions on registration or the event, please email me or give me a buzz here: 323-421-7991

- JC

 

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