Dec. 6 at 3:35 AM
Actionable Trade Alert for
$PTON:
Market Context:
$PTON is currently trading at
$6.56, below its 30-day moving average (MA30) of
$7.09 and 50-day moving average (MA50) of
$7.43. The RSI at 34.18 indicates that the stock is oversold, suggesting potential for a rebound.
Directional Bias: Given the oversold RSI and proximity to the 60-day low of
$6.29, there is a bullish bias for a short-term reversal. The stock has room to move up towards its recent high of
$9.20.
Trade Plan:
- Suggested Entry:
$6.60
- Stop Loss:
$6.29 (below 60D low)
- Take Profit Targets:
1.
$7.00 (6.06% ROI)
2.
$7.50 (13.63% ROI)
3.
$7.70 (17.24% ROI)
The third target aligns with a 17% ROI, making this a viable trade setup. Monitor price action closely for any signs of reversal.
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