Mar. 10 at 1:09 AM
$PTON printed a bullish engulfing candle with buy volume at the lows. Chart author called it out explicitly.
RSI labeled “Extremely Oversold” — lowest reading on the entire chart. Descending trendline from
$9.50 getting tested.
Gap to fill:
$3.46–
$4.90. Price is inside the gap zone right now. That’s the near-term target if the engulfing holds.
Bull case: engulfing candle confirmed, gap fills →
$4.90 →
$5.30 →
$5.70. RSI reset provides fuel.
Bear case: engulfing fails, back to
$3.46 gap bottom. Lose that and
$2.70 all-time low is back in play.
High risk turnaround name. But bullish engulfing + extreme RSI + gap fill thesis is a defined setup.
$3.92 reclaim confirms the candle.
#PTON #Peloton #hovdid
