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Technical analysis: PINTEREST, Inc. (#PINS)

Pinterest is an American image and social media sharing service designed to enable the saving and discovery of information on the Internet using images.

Pinterest has entered a bearish channel since February 2021 which has been perfectly respected throughout the months. Recent earnings results have enforced the stock's existing setup.

At current prices, we believe #PINS can offer good returns in the short term

  • The stock is far from the 50MA and looking at previous fluctuations the price tends to rejoin it in the short term

  • MACD is below 0 confirming the bearish trend of the stock

  • RSI has touched the oversold zone and now has room to support a bullish rebound

  • Bullish divergence between RSI and price comparing the lows of May 14 with the lows of August 3, 2021

Entry range $ 61.00 - $ 57.00

Target 1 $ 69.00

Target 2 $ 75.00

Stop loss $ 54.00

OTB Global Investments

8 August 2021

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