Online fitness provider Peloton is "working out" a chart that shapes up well. This popular brand, which provides streaming workouts and equipment for their exercise bike as well as weight training and yoga workouts, has been on a monster move the past year. With many gyms closed for extended periods of time due to COVID-19, more and more exercise enthusiasts have decided to purchase the Peloton bike and streaming service as a way to stay fit.
From a fundamental perspective, Peloton has seen strong earnings and sales the last three quarters and is projected to have continued success in 2021 and 2022. My girlfriend purchased the bike in November and noted how demand for the bike is through the roof. For a technical point of view, I love the steady long-term uptrend of the chart and the lack of distribution over the past month. I took a position in Peloton as it hammered off the 50-day moving average today. This is a low-risk, high-reward entry point for me, as I can take a small loss and move on if major support levels are broken or capture a large gain if PTON "rides" higher.
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Full Disclosure: I currently own PTON. Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.
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