Peloton Interactive Inc Stock Forecast
Red day on Friday for Peloton Interactive Inc stock after losing 2.48%
(Updated on May 24, 2024)
The Peloton Interactive Inc stock price fell by -2.48% on the last day (Friday, 24th May 2024) from $3.23 to $3.15. During the last trading day the stock fluctuated 4.44% from a day low at $3.15 to a day high of $3.29. The price has fallen in 7 of the last 10 days and is down by -25.18% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 million shares and in total, 11 million shares were bought and sold for approximately $34.90 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -22.30% during the next 3 months and, with a 90% probability hold a price between $1.98 and $3.30 at the end of this 3-month period.
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PTON Signals & Forecast
There are few to no technical positive signals at the moment. The Peloton Interactive Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.54 and $3.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -29.37%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Peloton Interactive Inc stock
Peloton Interactive Inc finds support from accumulated volume at $3.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.140 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 7.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PTON) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Peloton Interactive Inc to open at $3.20, and during the day (based on 14 day Average True Range), to move between $2.82 and $3.48, which gives a possible trading interval of +/-$0.334 (+/-10.60%) up or down from last closing price. If Peloton Interactive Inc takes out the full calculated possible swing range there will be an estimated 21.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.13 (0.63%) than the resistance at $3.27 (3.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Peloton Interactive Inc stock A Buy?
Peloton Interactive Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.686 Strong Sell Candidate Unchanged
Predicted Opening Price for Peloton Interactive Inc of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $3.20 ( 1.48%) | $3.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTON
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.34 | 5.93 % | |
| R2 | 3.28 | 4.23 % | ||
| R1 | 3.25 | 3.18 % | ||
| Current price: | 3.15 | |||
| Support | S1 | 3.14 | -0.216 % | |
| S2 | 3.11 | -1.27 % | ||
| S3 | 3.06 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.43 | 8.89 % | |
| R2 | 3.43 | 8.73 % | ||
| R1 | 3.27 | 3.81 % | ||
| Current price | 3.15 | |||
| Support | S1 | 3.13 | -0.635% | |
| S2 | 3.06 | -2.86% | ||
| S3 | 3.03 | -3.81% |
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