Peloton's stock (PTON) declined 8.7% in the last session, settling at 12.90, with trading volumes surpassing 63 million shares.
The fitness equipment manufacturer reported larger-than-expected losses in the third quarter of its financial year, with earnings crashing and operating costs rising.
The company also warned from lo capital on its hands, as earnings tumble 23.6%.
The stock pierced the support of 17.83, amid the dominance of the main downward trend in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect the stock to decline and target the support of 6.55.
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Expected trend for today: Bearish