The Hourly View for PTON
500 – Internal server error PTON has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
PTON ranks 2nd in terms of today’s price percentage change out of Electrical Equipment stocks.
PTON’s Technical Outlook on the Daily Chart
Currently, PTON’s price is up $0.95 (0.99%) from the day prior. This move is a reversal from the day prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Peloton Interactive Inc’s price action over the past 90 days can be seen via the chart below.
For PTON News Traders
Investors and traders in PTON may be particularly interested in the following story that came out in the past day:
NEW YORK, NY / ACCESSWIRE / May 3, 2021 / Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Peloton Interactive, Inc. (NASDAQ:PTON) between September 11, 2020 and April 16, 2021, inclusive (the “Class Period”).
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