Planet Fitness, Inc.Short
Short Of The Week
Updated
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 [ Since July 29th, we have been in a sideways downtrend ]
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.
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 [ Since July 29th, we have been in a sideways downtrend ]
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.
Note
Just realized earnings is today after hours! This could be spicy!
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