PTON peaked EXACTLY as expected, Peloton now in Retrace Watch

2019年12月4日

Followup to my first map for PTON topping zones (click).

So we peaked exactly as expected and are retracing now.
First leg down could have been just market wide pressure.
But second leg down is on a positive day for most indices. (uh oh)

Plotted EW paths are just GUESSES as to the retrace.
But the ZONES are SOLID and each will cause a reaction.
So we now we observe the action at our zones for clues.

It is also possible we do not get an "ABC" correction.
Perhaps we reach a support and bounce to new highs.
Perhaps we crash through supports to final destination.

The Numbers
$ 30.49-30.62 is the minimum expected target.
$ 29.51-29.73 is perhaps the most likely target.
$ 26.45-26.84 should be VERY STRONG support.

DISCLAIMER:
I know NOTHING about this company (other than TV ads).
I do NOT OWN nor SHORT this asset (the stock nor bike).
PURELY for educational purposes (not financial advice).


Previous plot looking for $35.-- or $37.00 top:

2019年12月6日

註釋

Update as of Friday Dec 6th market close:

Firstly a snap shot of the original plot above: Moving roughly as planned.

Secondly, I had a zone in very light green because I discounted its possible effect: It was a confluence of red 4.382 and purple 3.236.
Both of those ratios are usually not strong, but proved relevant here.
So it is a Bullish sign, bouncing from a not-so-strong support.

Next, some zone adjustments, see notes on chart:

Next, a new Fib to map the last leg down

So I will be using this new data, and ponder the waves we have seen, to come up with a new plot soon.

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