Just 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
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
Comment:
Now trading in a symmetrical triangle