PLNT Purchased On A Low Risk Pullback Buy
On Wednesday January 29th I purchased PLNT, on what I consider to be a picture perfect pullback buy.
We’ve got a 20% earnings reaction, followed by a six week long base, that culminates in a high volume breakout.
I was watching the breakout, but the market wasn’t ready for me to start buying yet, so I kept it on my watchlist. And by the time it pulled back to the base, the market was on better footing.

You can see on the chart where it turned back up and I bought it the next day on what was looking like a follow through day.
I’m in for a half sized position at less than 4% risk. It’s pausing now as it gets back into all time highs, but it’s acting very normal so far. Even today, when the market sold off fairly strongly, it did not retreat much and may even be giving me an opportunity to add to the position soon.
I had bought REAL the day before I bought PLNT, so this was my second buy this week. A perfectly acceptable second purchase on the week because earlier that morning I sold off a piece of ONON for 20% profit, allowing me to take on additional risk.
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