Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Peloton Interactive’s stock price (PTON) rose cautiously in the intraday levels, while trying to recoup some recent losses, amid the dominance of the main downward trend in the medium term, with negative pressure from the 50-day SMA, coupled with negative pressure from the 50-day SMA, and negative signals from the RSI after reaching overbought levels compared to the stock’s movements, hinting at negative divergence.
Therefore we expect the stock to return lower, targeting the support of $2.50, provided the resistance of $3.96 holds on.
Trend forecast: Likely Bearish