It's a time for Peloton Interactive, Inc. (PTON)-Target 8.20 $

The chart analysis for Peloton Interactive, Inc. (PTON) suggests a potential rise with a target of 8.20 USD. The 4-hour chart indicates a recent downtrend from a peak around 10 USD, with the current price stabilizing near 6.30 USD. A key support level is observed around 6 USD, which could provide a strong base for an upward move. The 50-day and 200-day moving averages are converging, hinting at a possible trend reversal if buying pressure increases.

Breaking through the resistance at 6.50-6.70 USD, a recent consolidation zone, could trigger a rally. With rising volume and bullish candlestick formations, the price may aim for 8.20 USD, a significant resistance level based on prior highs. The RSI, currently in oversold territory, could support this upward movement if it starts to recover, indicating renewed momentum. However, a drop below 6 USD support could invalidate this outlook and lead to further declines.

Potential TP: 8.20 USD