Short Of The Week

NYSE:PLNT   Planet Fitness, Inc
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.

Comment: Just realized earnings is today after hours! This could be spicy!

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