PLANET FITNESS INC - CL A (NYSE:PLNT) - A Strong Technical Setup With Breakout Potential

PLANET FITNESS INC - CL A (NYSE:PLNT) has been identified as a standout candidate in our technical breakout screen. The stock displays both strong technical health and a high-quality setup pattern, making it worth a closer look for traders focused on momentum and consolidation breakouts.

Technical Strength

PLNT currently holds a perfect 10 in ChartMill’s Technical Rating, reflecting its strong trend across multiple timeframes. Key factors contributing to this score include:

• Positive trends: Both short-term and long-term trends are upward, with the stock trading near its 52-week high.
• Relative strength: PLNT outperforms 86% of all stocks over the past year, with consistent gains spread across the period.
• Moving averages: The stock is above all major moving averages (20, 50, 100, and 200-day), confirming bullish momentum.
• Sector performance: Within the Hotels, Restaurants & Leisure industry, PLNT ranks in the top 25%, further validating its leadership.

Setup Quality

With a Setup Rating of 9, PLNT presents a well-defined consolidation pattern, suggesting a potential breakout opportunity:

• Tight trading range: Prices have consolidated between $99.07 and $110.95 over the past month, with recent action near the upper end.
• Support and resistance: A clear resistance zone starts at $109.06, while support sits at $108.05, providing a defined risk-reward setup.
• Pocket Pivot signal: Recent volume patterns indicate accumulation, reinforcing the bullish case.

A breakout above $109.08 could serve as an entry point, with a stop-loss placed below $105.22 to limit downside risk.

For a deeper technical breakdown, review the full ChartMill Technical Report.

Our Technical Breakout Setups screener updates daily with fresh breakout candidates.

Disclaimer

This is not investment advice. Always conduct your own analysis and consider risk management before trading.