What to watch on the Peloton stock chart ahead of earnings

Interactive Peloton Inc. PTON the shares were trading higher on Monday morning, but have since cooled.

The company reports earnings this week alongside other popular stocks such as Square Inc. SQ Airbnb inc. ABNB and Etsy Inc. ETSY.

Peloton was down 1.3% at $90.22 at press time.

See Related: Monday Market Minute: Slow start to a busy week

Peloton daily chart analysis

  • The stock appears to have broken through support in what technical traders call a side channel pattern.
  • The $130 price level is an area where the stock has struggled to break through in the past. This area may continue to hold as resistance going forward. The $80 level is somewhere where the stock appears to have recently found support and may hold going forward.
  • The stock is trading below the 50-day moving average (green) and the 200-day moving average (blue), indicating that the stock is likely facing a period of bearish sentiment.
  • Each of these moving averages can be a potential resistance area going forward.
  • The Relative Strength Index (RSI) has moved sideways over the past two weeks and stands at 48. This shows that the stock has had a period of consolidation and the buying pressure has been relatively equal to the selling pressure. sale.

What’s next for the peloton?

Bullish traders want to see the stock continue to form higher lows and push towards the $130 resistance level. Bulls would like to eventually see a break above this resistance level for the stock to continue to see bullish moves in the future.

Bearish traders are looking to see the stock begin to pull back and head towards the support level. The bears are then looking to see a break below this support level and for it to hold below the level, possibly triggering further bearish moves in the future.

Karen J. Nelson