Trade of the Day – Peloton Interactive, Inc. (NASDAQ: PTON) August 1, 2023 122

Trade of the Day

Peloton Interactive, Inc. (NASDAQ: PTON)

(Current Price: US$9.71) – TECHNICAL BUY

Buy stop price: US$9.87     Stop loss: US$8.50   

Take profit 1: US$11.80    Take profit 2: US$14.30



The price has consolidated in a bullish ascending triangle formation, forming higher lows towards the US$9.82 neckline resistance coupled with bullish momentum on the Moving Average Convergence Divergence (MACD) technical indicator.


Should a breakout occur, the price could retest the first resistance level at US$11.80, which was a swing high formed in April this year. It could then head to the next resistance level at US$14.30, confluent with a swing high formed in March this year.

Expected timeline of the trade is 4-12 weeks from the date of report issuance.

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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