Peloton emits more negative signals - Analysis - 01-03-2024

Economies.com
2024-03-01 11:11AM UTC

Peloton Interactive’s stock (PTON) fell in the intraday levels, with negative pressure from the 50-day SMA, amid the dominance of the main downward trend in the medium term, while trading alongside the short-term secondary trend line, as a negative divergence formed in the RSI after reaching overbought levels compared to the stock’s movements. 

 

Therefore we expect more losses for the stock, targeting the support of 3.96, provided the resistance of 5.56 holds on.

 

Expected trend for today: Bearish 

 

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