How Much Higher Can This Stock Pedal?

The at-home fitness craze is driving this one higher… August 28, 2020 UNSUBSCRIBE |ARCHIVE Chuck Hughes Reveals Recession-Tested Trading Strategy Grounded in 1984 because of a case of vertigo, Air Force veteran Chuck Hughes needed to find a way to make ends meet… So he took on the exciting world of financial trading and has since dominated the market, winning 10 championships. Now Chuck is opening up his proven, two-step system to everyone. Get more details here. How Much Higher Can This Stock Pedal? Dear Chart Of The Day Reader, On Thursday, we looked at the strong uptrend in Kellogg (K). For today’s chart, we’re going to take a look at Peloton Interactive, Inc. (PTON). On Thursday, Goldman Sachs raised its price target to $96 on the connected fitness equipment manufacturer. Let’s take a look at the daily chart of PTON below and see if it agrees: PTON broke its uptrend line in early August. But rather than the trend just reversing, it paused before retesting the trendline from underneath. When that held as resistance, PTON went back and tested the midline of the Keltner Channel. PTON is now headed back toward highs after holding that support, and we should be watching for that trendline to get tested again. If it breaks through, new highs should be up next, and the stock could indeed be on its way to the Goldman $96 target. And now… It’s time for the dad joke of the week! You can’t run in a campground… you can only “ran” — because it’s always “past tents.” See ya Monday! Trade Smart, Michael Saul Analyst, Chart Of The Day Earn $23,500 in 45 Minutes? It’s not stocks… Not bonds… And not real estate… Yet, for a few lucky readers, this type of simple source of income could send you real, hold-in-your-hand paychecks for the rest of your life. Click here for the full story. If you are having trouble receiving your Chart Of The Day subscription, you can ensure its arrival in your mailbox by whitelisting Chart Of The Day. © 2020 by Chart Of The Day. All rights reserved. This newsletter may only be used pursuant to the subscription agreement, and any reproduction, copying or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Laissez Faire Books LLC, 808 Saint Paul Street, Baltimore, MD 21202-2406. To end your Chart Of The Day e-mail subscription and associated external offers sent from Chart Of The Day, click here to unsubscribe. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. If legal advice or any type of assistance is needed, please seek the services of a competent professional. This material, produced by Chart Of The Day, is for informational purposes only. All technical information, instruction, and advice, reflect the beliefs of Chart Of The Day and are intended as informational only. Chart Of The Day is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Laissez Faire delivering daily email issues and advertisements. Please read our Privacy Statement. EMAIL REFERENCE ID: 401CODED01