PTON, short-term bear
After completing a large 5-wave up move, now price appears to be starting large wave 1 down.
And in that large 1st downwave, we are at the start of the 5th wave of that. It's been a fast fractal and you can see the setup.
No point in going long here. Bearish short-term, especially with anticipation of a weak broader market the week of Feb 07.
Don't let the day of earnings FOMO distract your eyes, the signs are there. The risk is far too great to be long here unless you're a full buy and hold for more months.
And in that large 1st downwave, we are at the start of the 5th wave of that. It's been a fast fractal and you can see the setup.
No point in going long here. Bearish short-term, especially with anticipation of a weak broader market the week of Feb 07.
Don't let the day of earnings FOMO distract your eyes, the signs are there. The risk is far too great to be long here unless you're a full buy and hold for more months.
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