PTLO - High Tight Flag - 2025-01-24

Portillo's stock bottomed around the end of 2024 and began moving into Stage 1 in January 2025.

It surged 45% from the bottom, then consolidated into a 7-day flag pattern. There were two potential entry points:

• Breakout of the flag on the daily chart.
• After the breakout, it formed another intraday 5-minute flag and broke out with high volume. This second intraday flag followed the "flag inside a flag" concept, as described by Mark Boucher in The Hedge Fund Edge, Appendix A: Strategies for Short-Term Traders.

If we trail the entry and exit after the first close below the 10-day EMA, the trade results in a 20% gain.