Peloton Shares Reach Critical Level: What's Next?

Shares of Peloton Interactive, Inc. PTON have been trending lower, but that may be about to end.

Shares have reached the $110 level and this important level was support in July. Sometimes support levels can stay intact for long periods and repeat themselves. That could happen here.

Support is a large group of buyers looking to pay the same price. At support levels, there’s more demand for the stock than there is supply. This is why downtrends end when they reach them.

Sometimes stocks rally off of support levels. That’s what happened with Peloton the last time it reached this level and it may happen again.