$PTON - Potential for a Stage 2 Breakout attempt

$PTON continues to look interesting in Stage 1, following a failed Stage 4 breakdown attempt in early May, which turned into a heavy volume Selling Climax and reversed into a Wyckoff Spring. Since then its rallied back to the top of the trading range with a minor sign of strength and has been tightening up around the top of the range above the 50 day MA.

It's too soon to do a P&F horizontal count for a potential price target as it hasn't yet had a breakout, and still may not. So targets are not done until you have a clear breakout. But if it does, then it has built up a significant cause, and would easily meet my 100%+ requirement from a base.

Earnings are on 8/26/2021 (AMC). So that will likely be a catalyst if it does make a breakout attempt into Stage 2.

Annual fundamentals + future estimates

Quarterly fundamentals + future estimates

Of note is that there's a big drop in expectations in the coming quarter. So opens up the possibility of an upside surprise.

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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.