Peloton Interactive Inc Stock Forecast
Peloton Interactive Inc stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Peloton Interactive Inc stock price gained 4.31% on the last trading day (Tuesday, 2nd Jul 2024), rising from $3.25 to $3.39. During the last trading day the stock fluctuated 6.25% from a day low at $3.20 to a day high of $3.40. The price has fallen in 7 of the last 10 days and is down by -14.18% for this period. Volume fell on the last day by -3 million shares and in total, 8 million shares were bought and sold for approximately $27.70 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.60% during the next 3 months and, with a 90% probability hold a price between $3.11 and $4.64 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PTON Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Peloton Interactive Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.42 and $3.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -14.18%. 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).
Support, Risk & Stop-loss for Peloton Interactive Inc stock
Peloton Interactive Inc finds support from accumulated volume at $3.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.200 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: $3.23 (-4.75%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (PTON) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Peloton Interactive Inc to open at $3.33, and during the day (based on 14 day Average True Range), to move between $3.16 and $3.62, which gives a possible trading interval of +/-$0.228 (+/-6.72%) up or down from last closing price. If Peloton Interactive Inc takes out the full calculated possible swing range there will be an estimated 13.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.38 (0.29%) than the resistance at $3.43 (1.03%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.966 Hold/Accumulate Upgraded
Predicted Opening Price for Peloton Interactive Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $3.33 ( 1.77%) | $3.39 |
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 | |
|---|---|---|
| R3 | 3.53 | 4.13% |
| R2 | 3.45 | 1.88% |
| R1 | 3.41 | 0.484% |
| Price | 3.39 | |
| S1 | 3.25 | -4.02% |
| S2 | 3.21 | -5.42% |
| S3 | 3.13 | -7.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.09 | 20.65% |
| R2 | 3.43 | 1.18% |
| R1 | 3.43 | 1.03% |
| Price | 3.39 | |
| S1 | 3.38 | -0.295% |
| S2 | 3.27 | -3.54% |
| S3 | 3.13 | -7.67% |
FAQ
Click here for our free guide on how to buy Peloton Interactive Inc Stock.
