Trading Journal -LOSSEntry around 2 PM , should have waited till the end of the day as it would not have been a trade that I would have entered.
Market next day / day sold had -2% reaction resulting in stock going down.
Sold for a loss
3PL trade ideas
Bearish Play on PLNTShorted PLNT at the break below $98, this will be a 1:2 R:R play to the downside.
Entry: Below 98
Stoploss: Above 103
Target: 90-88
Note: If youre playing options, make sure you give it about 3 weeks for expiration.
Planet Fitness, Inc.
Recently, the price seems to be consolidating with some upward movement, indicating a possible continuation of the short-term bullish trend.
When prices touch or exceed the upper Bollinger Band, it's often a signal of overbought conditions, and a reversal or pullback could be expected.
In the last few sessions, the candles show higher lows and higher highs, a good signal for bullish continuation.
The green candle today is relatively large, which could indicate stronger buying pressure.
The recent upward movement is supported by a healthy volume (visible in the lower volume bars), indicating strong market interest.
Resistance: The nearest resistance seems to be around the $83.98-$84.00 range (where today’s high reached).
Support: If the price retraces, potential support can be found near the $81.70-$82.00 range (lower bound of today's candle) and the moving average level around $80.
Short-Term Bullish Outlook: Price is currently in a bullish phase above the moving average, supported by decent volume and nearing the upper Bollinger Band. If price breaks above the $84.00 resistance, we could see further upward movement. However, watch for a possible pullback near this level.
Potential Risk: If price retraces, the moving average and lower Bollinger Band around $80 could provide support.
Planet Fitness (PLNT) AnalysisCompany Overview: Planet Fitness operates a unique franchise-based model, which reduces capital expenditure and enhances free cash flow. The company owns just 256 of its 2,575 locations, leveraging its franchisees to drive expansion and growth. With its affordable $10 monthly fee, Planet Fitness has successfully attracted a broad demographic of casual gym-goers, keeping membership churn low and ensuring steady revenue streams.
Key Catalysts:
Franchise Model Efficiency: The franchise-based model allows Planet Fitness to expand rapidly while keeping capital expenditures low, resulting in strong free cash flow. This model also minimizes risk and enables the company to focus on brand development and member experience.
Strong Membership Base: Planet Fitness currently serves 18.7 million members, capitalizing on its low-cost membership structure to maintain a steady flow of new members while minimizing attrition. This large and stable customer base is a key driver of its long-term growth.
Sales Momentum: Recent financial performance has been strong, with same-store sales up 8% and total revenue increasing by 14% to $278 million. This indicates continued growth momentum, suggesting that Planet Fitness is successfully navigating the competitive gym industry.
Investment Outlook: Bullish Outlook: We are bullish on NYSE:PLNT if it holds above the $72.00-$73.00 range. Upside Potential: The upside target for Planet Fitness is set at $98.00-$100.00, supported by its efficient franchise model, strong membership growth, and positive sales trends.
🏋️ Planet Fitness—building strength in numbers and cash flow! #PLNT #FitnessGrowth 🚀💰
S/R Flip Retest HoldingBroke through resistance and is holding support.
Looking to fill the gap at $81
50 MA Crossed over the 200, overall bullish setup
Caught Between The Gaps...Which one to fill first with earnings in 2 weeks?
The bottom one from a weekly chart? Or the top one from the daily chart about 2 months ago?
Shorty Short ShortsJust playing on the chart after that lovely recent news, and how about that.
A gap on the weekly chart...
PLNT 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.
All set to retest covid lows?Once it breaks below 72 and stays below it, then look for it to retest covid lows before the end of the next year.
Planet Fitness ConsolidatingIt appears that Planet Fitness is attempting to consolidate and build a stage 1 here. The next stop will be resistance at the $64.57 range with the volume.
PLNT ideaAnother from the weekly stock picks of Stockdweebs. PLNT has been consolidating for a while. If it breaks the upper trendline look for it to hit some resistance at the up standard deviation channel
Short Of The Week My weekly position! Going to short ( buy puts I should say ) Planet Fitness
Technicals & Fundamentals support a decline in value of this stock short term and I am very excited to explain my findings, beliefs, & trading strategy.
Technical Analysis:
I. Candle stick analysis
II. MACD shows growing bearish divergence/ weakening bullish divergence
III. Elliot wave shows that the second wave has been completed & the third descending wave is about to form ( opposite could happen if stock rises which is unlikely )
IV. Guth 3x Confirm shows a sell band as well as price & volume trending downward with stronger selling to come based on the red line.
V. Visible range shows high levels of trading as low as $73 a share which is close to where our lower low could be ( $70 )
Fundamental Analysis:
With the Delta variant of Covid-19 this could increase fear and make investors weary of buying planet fitness, there is plenty of room to sell off based on the technicals and selling volume has the potential to increase significantly bringing us to the true trading range of $73.
My Plan
What I will personally do is buy my puts for PLNT to hit $72.50 expiring 9.20 & will attempt to profit off the dip in a day trade or week long hold depending on price movement and trends.
Your thoughts matter!
I love reading everyones comments on my publications and would love to see your thoughts on my analysis as well as your thoughts on the short term future of Planet Fitness. Hope to hear from you all and anyone attempting to make a trade based on this analysis take extreme caution as I have been making lots of inaccurate calls/puts lately.
I do have a track record of being right and have almost 600 followers to back me up so I am not giving up and am looking forward to taking over this market again.
PLNT Daily Triangle PatternNYSE:PLNT daily might be about to break out of a triangle pattern which will initiate a long position with good risk vs reward potential.
MACD is lined up and ready and the entry can either be above today's high for aggressive traders or you can wait for the first pullback after the breakout if you want to wait for more proof.
PLANTIR Long @76.5 to a Target of 86PLNT following a trend and RSI AND STOCHASTIC are both moving upwards with PRICE ACTION toward LONG.
Please check and comment your thoughts.
🇺🇸🌐🇨🇳 - Is the Economy of this Planet 'fit'? 🍀🆙 🆙 🆙 (This is the chart of a random company for purposes of illustration)
Well... I don't know guys, not sure if the World economy(economies) are healthy but here are some facts:
Fact 1:
They have been printing debt...
but that doesn't mean we have to pay for it
Fact 2:
The stock markets are HIGH...
but we might look at them next year and say they are now still low
Fact 3:
Youtube is bombarding all of us with: 'dollar is crashing' - 'markets are crashing' - 'go to the bunker with your food, your gold and your AK-47' videos
but that has been the case for the last 10 years now and nothing ever happens
Fact 4:
The world economy has 2 lungs. The US (freedom through war, rule by dollar) and the Chinese (shut up and make China big China strong China number 1)
but the Chinese sneezed and the other lung got pneumonia (covid).
Fact 5:
Almost everyone is still alive, all economies had major lockdowns, economic activity froze or turned online, the governments printed money, 50 vaccines were created in record time and we are all gradually getting out of this mess.
but we expect inflation, which is not coming at a scary size yet (you see, technology beats inflation)
Fact 6:
ALL the data is GREAT at the moment.
Jobs? GREAT! Sales? GREAT!
America? GREAT! Australia? GREAT!
Ze Germans? SHTABIL! GREAT!
Ze Russians? HARASHO NORMALINA! GREAT!
✨The Chinese??? well, read below✨
Fact 7 🚀✨✨✨✨✨:
The Chinese are about to announce their GDP (Gross domestic product) for the Quarter. It's being announced in 6 hours from now.
The forecast is a NEVER-EVER-SEEN-BEFORE 18%+ (!!!!!!!!!!!!!!!!!!) 😮😮😮😮😮
EIGHTEEN PERCENT??? 😮😮😮😮😮
Well, I have never seen an 18% increase ever before. Last one was 5%, normally the Chinese had an average of about:
6,2% in 2019
6,7 in 2018
and in the best years they had around 10,7% in 2007
IF THEY EVEN COME CLOSE TO THE FORECAST TONIGHT, THEN WE COULD BE LOOKING AT A VERY GREEN FRIDAY TOMORROW AND A VERY PROMISING NEXT QUARTER FOR INDICES AND CRYPTOS ALIKE.
Why? Because it's a small tiny world we live in and if China is going well it's great news for everyone else too.
To me, it looks like a scenario where I need to Buy, not to Sell or panic... but I am not always right and I can give you no advise. I am just sharing how I think and what i do... i am BUYING!!
One Love,
the FXPROFESSOR
PS. will everything crash eventually? Yes, maybe but not now, not this year, not before they dare increasing any interest rates. An even if it all crashes we are holding the answer in our crypto-wallets.
PS2. Not on cryptos yet? Maybe buy TONIGHT!
temple of swolI rolled into a couple dumb May 21st 92.5 calls a couple weeks back and overpaid when the underlying was rallying. Showing some promise now, although I'm tempted to close this trade and take a loss when it straddles it's par fib trend level 1.0 @ $86.50.
My thinking was half the cohort that travel want to get back in shape before traveling again; this group wasn't buying pelatons, they were doing cheap outdoor activities, eating garbage throughout the winter. Need to look good BEFORE you board that flight to Cancun. But I saw pics of the average person partying on a cruise ship: you either take care of yourself or it's n f's given. Still, the gym really helps get that fitness discipline back, especially for the meat heads and cramped condo dwellers. We'll see. 4%+ in a day I'm skeptical. Market is chasing.
PLNT 🌦This is another example of a Running Flat Elliot Correction Wave. XLY is looking to head higher, I would need more confirmation with the lower time frame in the form of an LDC (LOWER DEGREE CORRECTION) prior to opening a position in calls.
PLNT- What planet are we really on?Planet FItness. This looks like a Harmonic Pattern i have been trying to understand. Lets what planet we land on. This is by no means a prediction. Just chart practice.
PLNT: ChannelLooking like we are touching the bottom of a channel right now.
Interesting points:
- Resistance in ~$80s-$90s with top of channel and previous highs
- Weak support around ~$68
ABC Bullish Earnings 2-18 AMCEstimated Earnings 2-18 aftermarket close..No rising wedges in the yearly chart
It would seem this would be a tough earnings report for a gym..considering the whole country is or has been under the weather for the past year according to the current governement and the media..
Trading at earnings is risky as market response can be unpredictable..
I go to this gym so possibly partial..This gym never closed a day in my area...but I am in the south and I do realize this is not true in every state..
There is often R at B..Possible stop a few ticks below C in case there is a retest of C which does happen especially this close to earnings. Some folks follow a "dump before earnings" rule so and then other times a stock will climb before earnings only to fall afterwards..just no way to know for sure.
You may see a different long entry level than I do. Long entry level is a break of the BC leg with a bullish candle formation or a confirmed uptrend..I do see R at the top of that wick on the green candle 5 trading days ago. S&R levels are definitely levels to be considered, but were also made to be broken..any rule is made to broken sometimes I guess or life would be absolutely no fun at all (o:
Not a recommendation
PLNT Continuation WatchLooking for a continuation. Bullish EMA cross. Needs to come down a bit before I enter for a smaller stop loss. RSI also overbought.
$PLNT earnings play85 call exp. Feb looks very good as IV increases prior earnings. To be sold before earnings
