lauralea

Cup and Handle

Long
NYSE:PLNT   Planet Fitness, Inc
Planet Fitness is moving up in the world and forming a Cup and Handle pattern..

That spike up to 83.09 has hurt performance it seems and caused a fairly significan pull back after the throwback occurred. Throwbacks are when price breaks into long entry level then "Throws" back. It differs from a healthy pull back..
NV was very high at that gap up to 83.09..just perhaps too much too fast..has slacked off since then on daily but on hourly it is still high..weekly and monthly candles suggest a possible further pull back..

The throwback almost invalidated the cup and handle pattern because the handle low was broken/handle low is not supposed to be below mid cup which is 64.80. There should be support there as well as under the handle low..

Not a recommendation

Practice does not always perfect if you are practicing the wrong thing over and over..luck is sometimes being well practiced and prepared when opportunity strikes (o:
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