In the daily bar chart of PLNT, below, I can see some visible improvement in this chart in the past two months. The shares rallied above the 200-day moving average line in November and unlike many other charts I have looked at in recent months, prices have stayed above the 200-day line. The slope of the 50-day moving average is positive.
In the weekly Japanese candlestick chart of PLNT, below, I can see a more promising picture. The shares have rolled over in 2021 and half of 2022 but the chart shows improvement the past four months. PLNT trades above the 40-week moving average line which is now bottoming.
The weekly OBV line has moved up from September, telling us of a shift from aggressive selling to aggressive buying. The MACD oscillator is in the process of crossing the zero line for an outright buy signal.
In this daily Point and Figure chart of PLNT, below, I can see a price target in the $86 area.
In this second Point and Figure chart of PLNT, below, I used weekly price data. Here the software suggests the $116 area as a price target.
Bottom-line strategy: Traders looking to get in shape could probe the long side of PLNT closer to $75 risking to $71. Our first upside price target is $86.