PLNT

2 thg 1, 2023

Here is my analysis about planet fitness (not financial advice). A really nice double bottom was formed over last year. This is bullish as it indicates a reversal in price action. As the price moved up it retested the area of resistance in between the double bottom and found support. The price then went right through previous resistance in between 69 and 72 dollars. The price then broke the 200 day moving average (red line), again this is bullish. The price has since found resistance around the August peak and has consolidated in an ascending wedge. My guess is that the price breaks to the downside of the blue lines I drew and retests the 200 day/yellow lines. If it were me, I would put buy orders in around these prices looking to sell around the horizontal red line (~85 dollars). To manage risk, I would put a stop loss around 69 dollars.

If it breaks to the upside, then off to test the horizontal red line.