PTON - Bull Flag (Etoro Portfolio)

Price uptrend (since beginning of Nov 2020), cross over MA50 (blue line) and MA20 (orange line).
Two times touch MA50 line till price 167.00 and appeared downtrend with 8 trading days to form a build up.

A price rejection : pin bar on MA20 line, draw a trendline (purple line) from first day of downtrend. RSI and MACD also in uptrend signal.

Next day a strong bullish candle breakout as confirmation and reversal buy point after that.

IBD's RS (Relative Strength) = 98, Industry Group Rank = 24 / 197


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