Key Takeaways
- Peloton shares were down sharply Friday, giving back a chunk of the near-30% gain recorded yesterday after the fitness equipment maker announced a new CEO and reported better-than-expected results.
- The stock has trended higher after forming a double bottom, with the price staging a breakaway gap yesterday following the company’s upbeat earnings. However the relative strength index warns of extremely overbought conditions
- Investors should watch important resistance levels on Peloton’s chart around $9.50 and $13, while monitoring key support levels near $6.70 and $5.
Shares in Peloton Interactive (PTON) were down sharply Friday, giving back a chunk of the near-30% gain recorded yesterday after the fitness equipment maker
