This New Year Resolution Idea Was Explosive — Again

Dec 26, 2023

“We’re again nearing the holiday season,” we noted on Oct. 2.

“And that means that it’s time to start looking at some of the top New Year Resolution ideas, as we do every year. In the next few weeks, there’s Halloween, when we eat more of the candy we hand out at the door. Then, there’s Thanksgiving, where we eat until we pass out from too much tryptophan. And then there’s the December holidays, and New Year’s Eve and Day.”

Around this time of year, about 90% of us, according to Johns Hopkins Medicine, make a resolution to lose weight, diet, and exercise more. All as millions of us begin to worry about our expanding waistlines, and promise ourselves next year will be different.

With that, one of the Resolution ideas we shared was Planet Fitness (PLNT).

At the time, we noted, “For the last several years, the stock tends to take off around the holidays. It’s even starting to do so again now after plummeting. We saw it take off in late 2020, in late 2021, and again in late 2022. Now, we’re seeing it happen again. In fact, after bottoming out around $45, the oversold gym stock is also starting to pivot from over-extensions on RSI, MACD, and Williams’ %R.”

Since that note, PLNT ran from about $48 to $72.61 – and it’s still running.

All thanks to the same Resolution pattern we’ve seen for years now.

Right after the holidays and New Year celebrations, and Resolutions go right out the window again, PLNT may present us with a solid short opportunity. In fact, if you look at PLNT on a five-year chart, you can see it typically slips around January.

We’re actually waiting for it to happen again now.

So, when it comes to PLNT, investors may want to go long around July, wait for the potential run up, short by the start of the following year, and repeat.

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