"Staying at home is really bad for business," said host Jim Cramer.
Let's check out the charts of PLNT from our at home gym in the basement.
In this daily bar chart of PLNT, below, we can see that prices suffered a "life altering" decline from late February to the middle of March. Prices quickly came down to the $25 area from the $85-$90 area, taking prices back to a level not seen since late 2017. Prices bounced a bit last month, but stopped way short of overhead resistance starting around $55-$60.
The slopes of the 50-day moving average and the 200-day moving average are both negative. We can also see the recent death cross of these two lagging indicators. The On-Balance-Volume (OBV) line made a new low for the past 12 months in March telling me that selling was pretty aggressive on the way down. The Moving Average Convergence Divergence (MACD) oscillator crossed to the upside last month for a cover shorts buy signal but a move higher to the zero line seems way off in the future.