Dec. 17 at 4:18 AM
Actionable Trade Alert for
$PTON:
Market Context:
$PTON is currently trading at
$6.19, near the 60D low of
$6.14, suggesting potential for a rebound. The RSI at 36.84 indicates that the stock is oversold, which may lead to upward momentum. The 30-day moving average (MA30) is at
$6.83, and the 50-day moving average (MA50) is at
$7.09, both suggesting resistance levels above the current price.
Directional Bias: The oversold RSI and proximity to the 60D low create a bullish bias for a short-term reversal. A move towards the MA30 is plausible, providing a favorable risk-reward setup.
Trade Plan:
- Suggested Entry:
$6.20
- Stop Loss:
$6.10 (to limit risk)
- Take Profit Targets:
1.
$6.70 (approx. 8% ROI)
2.
$7.00 (approx. 13% ROI)
3.
$7.25 (approx. 17% ROI)
Monitor price action closely, and adjust stop loss to break even after reaching the first target.
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