WHY PLANET FITNESS IS THE #1 STOCK TO BUY ON PULLBACKS

Start for $1 - Monthly membership is $10 - $20 mo. go to any location
Free T-shirts, bagels, pizza
Clean beautiful gyms
Equipment well maintained - Employees always nice with a no judgement zone
They have dialed in this gym experience
Weekly chart shows they have dialed it in for years
Most of weekly volume spikes are on bullish weeks
People are interested in this chart - volume is going up - volatility is going up
There is a continuous increase in the trend line angle
Anytime your trend line does a dramatic increase like this is called a bump and run.
The bump and run trend line is usually considered bearish but there are strong bullish signs still
Drilling down to 1D chart , notice hugh gap down on May 3rd
Gap down on positive earnings news
Drove down to 15m chart to find where volume spike came from
First few 15m candles drove price back up so gap spike from 1D came from positive moves
Most of the traders want this pair long
When most traders want price to go long you are probably in for a pullback
Price has been pushing up for some time so expecting some consolidation
Watch for an ascending triangle to develop
Sell when you see pullback on reduced volume and volatility
Buy at trend line bounce
If pullback did not come with reduced volume/volatility then enter with smaller size.
Use ATR to determine SL (1.5xATR)and TP (1xATR). When in profit take some off and move SL to break even.

Comment:

Buy on pullbacks