Jim Cramer told his Mad Money viewers Monday night that most of the best performers in his Covid-19 index have been technology names, with Peloton Interactive Inc. (PTON) and others such as Zoom Video (ZM) and Spotify (SPOT) leading the pack.
Let's check out a couple charts of PTON.
In the daily bar chart of PTON, below, we can see that prices have tripled from the March nadir. Pretty amazing. PTON is trading above the rising 50-day moving average line but we are short of 200 days of trading to show the 200-day average. The slope is probably positive too.
The On-Balance-Volume (OBV) line has been rising all year and confirms the price strength in the stock. The Moving Average Convergence Divergence (MACD) oscillator crossed the zero line in early April and it is still pointed up.