The share price of Peloton (PTON) has plunged over the past seven weeks. Back on February 23 we wrote that "The rally in PTON stalled out in December and January and weakened significantly this month. The sell off does not appear to be over. Stand aside for now." We showed a Point and Figure chart with a $108 downside target that was recently overrun but prices have held the rising 200-day moving average line.
Is it time to jump back on the bike? Let's check.