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PTON Bull Flag Setting Up Under a Volume Gap

PTON Bull Flag Setting Up Under a Volume Gap

by | Aug 2, 2021 | Chart SetUps

Peloton (PTON) shares pulling back to the 55-EMA recently and finding support on 8/2, closing near the highs despite a broader market selloff. A move above $124/$125 and a high-volume node sets up for a multi-week breakout and run to $140. PTON can also make a more sustained run on a breakout with MACD back near zero and turning higher while RSI is above 50 and plenty of room for expansion.