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