PLNT: Strong Chart + Vaccine OptimismGreat risk reward play here on a name that could see more growth on the hells of a vaccine.
PLNT trade ideas
CHARTING SUPPORT AND RESISTANCE ACROSS MULTIPLE TIME FRAMESSTART WITH A MACRO VIEW AND IDENITFY MOVOMG TRENDS ALONG WITH SUPPORT AND RESTISTANCE LEVELS AT THE MONTHLY. YOU CAN SET COLORS TO IDENTIFY EACH TIME FRAME AND ALSO ADD TEXT IF NEEDED.
START ZOOMING IN AND CONTINUE TO ADD SUPPORT AND RESISTANCE AND ANY OTHER INDICATORS YOU WISH TO ADD.
I ENDED WITH DAILY BUT YOU CAN LIKELY ZOOM IN FURTHER TO THE 4HR OR 2 HOUR CHART.
ABC BullishPull back today
Perhaps it will pull back a bit more. Pick an entry point that works for you..should be over 55.5 though
This a "get back to life as we knew it" stock so handle with care (o:
Seems some do not want life to go back to the way it was last year. Probably the PPE companies do not..lol. And what will the media do with themselves when they can not talk about Covid anymore? The democratic ticket is based on Covid, so I know they want the fear to stick around until the election at least. And I think the Demoncraps run the media for the most part. So I guess the panic and fear will end when the Demoncraps are ready to let it go
PLNT looked like a failed ABC pattern there for a while. I was afraid of a morph in to a H&S pattern. But nada!
Any pattern can fail. And who knows if the tide will turn for this one.
But for now, it appears the energy has returned to this one and there is a hammer on monthly today 10/13/20.
NV had all but ceased on this one but is perking up slowly but surely
I will see you at the gym (o:
Success isn’t in picking the stock but in how it is played once you own it. When to buy more and when to sell is far more important than knowing what to buy. One good trade can be a life changer.
Not a recommendation
ABC Bullish BewareA failed ABC pattern can become a Head and shoulders pattern. I am not saying this one has failed yet, but it has not proceeded to an uptrend like it should do yet. Keep an eye on support lines
To become a H&S pattern it would have to break the neckline of 49.42 (which is C) in a strong downtrend
I like this stock and am hoping this does not happen
Short interest is on the high side. I would definitely keep a stop on this one right under C..or right under support levels..or just watch it closely.
Possible Targets 2 121.5 to 130
Not a recommendation
PLANET FITNESS View DailyHey people, PLANET FITNESS is in a fake bearish movement with a high volume of purchases made and a shadow bear made. The TIMEFRAME 1Min is in a bullish continuation with a long wick and it is about to break the VWAP in force. In this situation we go in the direction of the last high precedent with a resistance to pass before. Then the second objective is just after the next higher See the TIMEFRAME 4H, We can reach the top of this candle in DAILY.
Please LIKE & FOLLOW, thank you!
Possible Failed ABC pattern/H&S PossibleJust looking at this. This was trading in an ABC bullish pattern but I noticed short was very high.
An ABC pattern can morph in to a head a shoulders pattern if it turns down vs breaking up. If it hits support drawn in green and turns back up in an uptrend..then all is ok
I hope PLNT does not break the neckline and go in to a down trend...but patterns morph and it is something to be aware of
Below the neckline this is not a long trade
If stock breaks the neckline(49.4)..only if..the targets would be 30.2 24.9
Just an observation
ABC BullishNo gaps that are significan noted. No rising wedges noted. A high short percent is noted.
Possible target 2 88.75 then re-eval if old high is broken.
I have made a lot of money trading this stock in the past. I am not in it yet. Not a recommendation
Stop somewhere under C
To measure an abc pattern, they are easy to spot, draw the AB leg then the BC leg. Then when price breaks the BC leg trendline and an uptend is obvious..GO! Good chance you will encounter R at B. May take a few times but it will usually at least go up the length of the AB leg over the proposed B/O level. In a potential strongly trending market and expect to see 127.2% or 161.8% price extensions of the AB leg. You must know your stock and the mood of the market. You do need to know how strong your stock is to calculate it, and there is always Resistance at prior high and B. Some do not get in until B is broken. It depends on how cautious you are. Some sell at B. And this is not an exact science by no means. And the stock or commodity may hit C more than once. Just a guide
For a Cup an Handle/Know the cup depth. Also easy to spot. Know your handle low for support. Know your mid cup (subtract cup high from cup low, then divide by 2) to know if the pattern failed as a handle low should not reach no further mid cup. Plus for a volatile stock, mid cup may be your stop. For example, I used mid cup on SEDG. B/O is over prior high and cup depth is added to B/O..but all within reason. In a potential strongly trending market you may expect to see 127.2% or 161.8% price extensions of the cup depth. Look at existing resistance levels. and the trend on monthly for last 20 years. Does this stock stay in an uptrend as a rule, or does it have a history of deep pullbacks? IE..ICE has been in a strong uptrend for a long long time, BRKS has not...just an example is all. A V bottom is the same as a C&H just no handle low..but there is a V Cup pattern which is nice because you have a handle for support. Sometimes I can tell the stock will b/o or break prior high, so I buy early, but not text book trading of a cup and handle pattern and I do not recommend it. At times I buy at handle low due to support. Again not recommending that.
I think a lot of stocks are getting a pass on earnings it seems. This was a strong stock before the flu panic
This flu has done a lot of damage, not only to the economy, but also to folks who never even had this flu..like my mom )o:
Our reaction has been detrimental to a lot of people, as well as stocks. I for one do not work out like I used to. It is becoming harder and harder to stay healthy even if you do not have the dreaded flu that is going around. Then we have influenza season. There will be sickness on earth until the day I leave here and has been since the beginning of time
I am watching for now
Not a recommendation
PLNT JUMP WayckoffHello friends,
PLNT jumps to 78% Fibonacci.
Trading volume increases.
Stop 5 cents below the lower green candle tail
Exit at the top stop line.
*** There is no cymbal for buying or selling **
meni
PLNT 1D BULL FLAG LONG TRADEBull Flags are Ranges which are repeatable trading chart patterns.
Bull Flag chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
Whatever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Shorting PLNTIt's in a downward channel and with ER tomorrow what are they reallly going to report? Business is good? With no end to this pandemic in the near term I see more suffering for the gym sector. It can go down to 40$. I miss the gym....
What are you doing, STOCK? I don't recommend to do any actions until the market and the big sharks are deciding where to go, LOLS
Don't think this is the lowest until there's more confirmation!
#tradewithstrategy
#noFOMO
#analysisfun
#Ineedtoworkouttoo
Holding 55pCurrently in 55 puts for next week, has a nice gap to fill under todays lows down to 52.32, good to play with Coronavirus headlines
Shorting Planet Fitness to hedge my long positions from hereSince I'm unsure what the market will do tomorrow, I have a mix of long and short positions as we head into the close of trading today. One of my short positions is Planet Fitness. It's absurd for this stock to be trading at 50+ P/E and 100+ forward P/E with new coronavirus cases starting to go exponential again. This is well above the multiple that PLNT usually trades at. PLNT has a high put/call ratio today, suggesting that sentiment on the stock is very negative. It also has a -60% ESP from Zacks, which means it's likely to miss on its next earnings report.
It's sitting at support right now, but that may break if the market stays weak. PLNT is frankly due a correction down to at least 60 or so.
Short term short PLNT, MACD cross over on 4 hr chart..
Hidden divergence and hitting the top of the channel.
Please post if you agree or disagree
PLNT - Tested Support ZonePLNT tested the Support Zone 62.60-63.50 and made a decisive rebound from this zone yesterday. Looking to long today with initial stop just below the support zone @ 62.50 and later to trail the stops up to a possible target of 80 and perhaps even 85 (fib extensions). The futures are looking a little weak right hence do not over risk on size.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Planet Fitness Options PlayEasy Loot Options Signal | Estimated time: 2 Weeks
Inside the Easy Loot options chat, we're looking at 2 contracts to play Planet Fitness. The first play will be quite accurate & is based on Technical, the second play is also somewhat played on Technical but is very far otm.
These are not suggestions, always do your own research before dealing with any type of investment.
The Easy Loot Play:
PLNT CALL $80 Strike 6/19 @ $55
Want to play it safer?
Add a month of time to this play by grabbing the Jul 17th contract.
DotcomJack | Direct message me for any support or guidance!
PLNTRipped back into the channel, closed my short at the open. Should have went long but had other priorities. This one is back on the watchlist for now. I should mention that, generally, when my setups fail, they fail HARD in the opposite direction. Just in case anyone out there is dumb enough to trade what I trade lol.
