Peloton (PTON) – Spinning to Gains – November 19th, 2020
The bullish DailyPlay for Wednesday, November 18th is Peloton (PTON). PTON has experienced a 22% decline over the past month but has now reached a major support level and will likely hold the $100 support.
- First-mover advantage into interactive fitness has allowed PTON to grow a loyal following with over 92% subscription rates.
- Very low monthly churn rate of 0.6% and high subscription margin of 63%
- Earnings: Feb 3rd (77 Days)
- A pullback to an area of support provides a good opportunity for a long position
- Approaching oversold territory
- Very strong relative strength, technical score (10 out of 10)