Peloton Interactive Inc (US: PTON) Initial upside is confirmed after prices broke out of the larger falling wedge and prices has also made a series of higher high and higher low. Recent technical has also indicate further upside:
- Peloton Interactive has formed a larger inverted head and shoulder and is pending to break above the neckline resistance zone at US$122.60-US$126.73.
- On the right shoulder, Peloton has formed a bullish flag after it rebounded from the immediate support zone at US$110.183 region.
- The bullish crossover of the 22 and 63 period Moving average is another confirmation signal that the bullish upside is intact. Especially prices close right at the 200 and 22-period moving average.
- RSI rebounded at the mean reversion line at 50. Citing a negative failure swing.
*Expected timeline of the trade is 12 weeks from the date of report issuance.
CHART LEGEND
Moving Average
Red dotted line = 200 periods MA
Blue dotted line = 63 periods MA
Green dotted line = 22 periods MA
