Peloton lost 98% from the pandemic highs. Wall Street moved on, analysts slapped $5 targets on it, and the turnaround story became background noise. Then revenue grew year-over-year for the first time since COVID, the company turned profitable, and the stock ripped 54% off the March lows.
Today's standout:
Peloton Interactive $PTON is currently exhibiting a squeeze score of 92.
Here’s what the chart looks like:
Peloton is coiling against a key polarity level near 7 as price works to complete a multi-year bearish-to-bullish reversal base.
Volatility on the Weekly Strazza Indicator has compressed into a tight range, signaling energy has been reset for the next directional move.
Both VWAPS anchored to the multi-year range highs come into play around 7. A breakout above this confluence could ignite the next leg higher.
The stock still has a 15% short interest on a four and a half days to cover ratio.
