Here is my analysis about planet fitness (not financial advice). A really nice double bottom was formed over last year. This is bullish as it indicates a reversal in price action. As the price moved up it retested the area of resistance in between the double bottom and found support. The price then went right through previous resistance in between 69 and 72...
It appears that Planet Fitness is attempting to consolidate and build a stage 1 here. The next stop will be resistance at the $64.57 range with the volume.
Another from the weekly stock picks of Stockdweebs. PLNT has been consolidating for a while. If it breaks the upper trendline look for it to hit some resistance at the up standard deviation channel
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....
NYSE:PLNT daily might be about to break out of a triangle pattern which will initiate a long position with good risk vs reward potential.
MACD is lined up and ready and the entry can either be above today's high for aggressive traders or you can wait for the first pullback after the breakout if you want to wait for more proof.
(This is the chart of a random company for purposes of illustration)
Well... I don't know guys, not sure if the World economy(economies) are healthy but here are some facts:
Fact 1:
They have been printing debt...
but that doesn't mean we have to pay for it
Fact 2:
The stock markets are HIGH...
but we might look at them next year and say they are now...
I rolled into a couple dumb May 21st 92.5 calls a couple weeks back and overpaid when the underlying was rallying. Showing some promise now, although I'm tempted to close this trade and take a loss when it straddles it's par fib trend level 1.0 @ $86.50.
My thinking was half the cohort that travel want to get back in shape before traveling again; this group...
This is another example of a Running Flat Elliot Correction Wave. XLY is looking to head higher, I would need more confirmation with the lower time frame in the form of an LDC (LOWER DEGREE CORRECTION) prior to opening a position in calls.
Planet FItness. This looks like a Harmonic Pattern i have been trying to understand. Lets what planet we land on. This is by no means a prediction. Just chart practice.
Looking like we are touching the bottom of a channel right now.
Interesting points:
- Resistance in ~$80s-$90s with top of channel and previous highs
- Weak support around ~$68
Estimated Earnings 2-18 aftermarket close..No rising wedges in the yearly chart
It would seem this would be a tough earnings report for a gym..considering the whole country is or has been under the weather for the past year according to the current governement and the media..
Trading at earnings is risky as market response can be unpredictable..
I go to this...
