Peloton Lower; the Chart Hints at How Far It Could Fall

Stocks of Peloton (PTON) have been volatile since they peaked in 2021. Example:

Shares rose more than 20% on Wednesday after reports of a distribution deal with Amazon (AMZN) . On Thursday, the stock fell about 20% after the connected fitness company reported gains.

The move is trading stocks near last week’s lows and threatening to move lower if buyers don’t intervene.

Wednesday’s reports said Peloton would “sell its signature exercise bike, as well as other clothing and accessories, through Amazon.” But a top and bottom line miss a day later undermined that bullish momentum.


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