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PTON Stock: Will Peloton Stock Price Break down $5 or Recover?

PTON stock price fell 34% in the previous month and eroded a big portion of its market capitalization. The majority of the downfall in Peloton’s stock price came after the release of its quarterly earnings. Peloton stock is in a strong downtrend and no strong signs of recovery are visible. The EMAs are sloping downward confirming the downtrend. At the beginning of August, Peloton Interactive, Inc. stock tried to break out of the $9.00 hurdle. Peloton’s stock price looks highly oversold and corrected a lot from its previous swing high. So, a narrow range consolidation is expected for the base formation. PTON shares closed the previous session at $5.45 with an intraday decline of -6.36%.

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