PTON Trade on Sep 26, 2019 12:12 from J_Matrix: Tradervue User Stock Trades.

-Overall market sentiment although reached all time highs, however, there are many
factors that might put the big money on the sidelines and wait out the indecisiveness.

Intraday Fundamentals:
-Peloton Interactive, Inc. is a provider of interactive fitness platform.
The Company provides connected, technology-enabled fitness and the streaming of instructor-led boutique classesto its members.
The Company operates and manages its business in three reportable segments:
connected fitness product segment, subscription segment, and other segment.
Its connected fitness product segment consists of its Bike and Tread and related accessories.
Its other segment consists of Peloton branded apparels.
-40Mil shares offered on the IPO with $GS and $JPM as lead underwriters
-Initial public offering price set at $29

Technical Analysis:
-IPO opens at $27 (under the IPO price of $29!)
-1st min opening range $26.25-$27.25
-Set intraday high at 27.98
-Kept bouncing off 26.25 and setting a lower high on each bounce
-VWAP at 27 after first hour of opening.
-Each leak above VWAP and 27 got resold quickly on the tape back down under 27
-Opening print is at 27.25

Thesis:
-Many recent IPO's tend to fail if they open under their IPO price. With such a well known underwriter presence in
$PTON, if the stock is unable to recover it's IPO price, this leads to the thesis that the IPO is a failure and that
the street will not be confident to buy it up on day 1.
-Find the initiation of the downtrend and pay attention to the lower highs for entries
-As long as price stays under the resistance zone of $27-27.25, short the pops.
-Pay my self everytime the stock reaches the support of 26.26-26.50.
-If support snaps, wait for confirmation that price can no longer reclaim to add. Next target down is psych whole 25.