Planet Fitness, Inc. (NYSE:PLNT) gained 2.51% in yesterday’s session, going up from its prior closing price of $23.87 to $24.47. The price has fallen in 6 of the last 10 days, but is still up by 5.43% during the last two weeks. Trading activity decreased by -612 939 shares, and in total, 838 113 shares was the trading volume and the dollar amount of trading equals $20.51 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.
Inside PLNT’s Recent Trend
Planet Fitness, Inc. (PLNT) lies in the middle of a wide and strong rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 12.25% over the course of a quarter and, with 90% chance the price will be floating in the range of $26.04 and $29.08 in this timeframe.
Planet Fitness, Inc. Technical Signals
PLNT has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $24.08 and $23.24. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Tuesday August 15, 2017, which calls for additional surge until the stock forms a new pivot point high. There was a decrease in volume but the price rose. This is usually not interpreted as a good sign as traders widely believe falling volume should see declining stock. Investors should be watching the price action like a hawk in the coming sessions.
Planet Fitness, Inc. (NYSE:PLNT) Support And Resistance Levels
Planet Fitness, Inc. (PLNT) recorded volume accumulation so there will probably be a surplus of buyers at $24.25. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $24.55 and $25.13.
Accumulated volume is going to prevent the price from rising further at $24.55 and this action will lead the price to take a temporary pause or stay muted for a few days.
Planet Fitness, Inc. (PLNT) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.78 (3.26%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 4.01%.