What Charts Are Saying About Peloton

With a P/E ratio of 840, I think we can all agree that Peloton (NASDAQ:PTON) is a richly-valued creature. The market seems to have embraced the thought that:

  1. The lockdown will last forever;
  2. In spite of being famously pudgy and lazy for decades, Americans will all suddenly want to exercise vigorously at home;
  3. They will do so by way of a very expensive stationary bike with a big monthly recurring fee.

Of course!

I’d like to suggest these charts, and the accompanying indicators, indicate otherwise:

The price gap:

Peloton Candlestick Chart.Peloton Candlestick Chart.

The bearish PSAR and near top of Bollinger range:

The Bollinger Range.The Bollinger Range.

The moving average crossover:

Peloton Moving Average Chart.Peloton Moving Average Chart.

Williams (NYSE:WMB) %R sell signal:

Peloton Chart.Peloton Chart.

The overarching conclusion?

Original Article

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