Pinterest has broken its downward trend line three times now, and each time it quickly resumed its downtrend. This latest time may be different, though. Pinterest hit a previous low, whereupon it received a big spike in volume. The analytics firm Pivotal took that as a cue to upgrade the stock to "Buy." Volume has remained high, so the next trend line break might actually stick this time.
Pinterest could get a lot more buying volume coming in if it falls again to previous lows at 25.32, 23.91, 23.60, and 23.05.
Pinterest could get a lot more buying volume coming in if it falls again to previous lows at 25.32, 23.91, 23.60, and 23.05.
Trade active
We made a bullish trend line cross today on news of an analyst upgrade. We've also established a nice volume support node at about 26.03. I'm up about 4% and looking forward to more gains ahead.Note
I got out of this Pinterest trade a while ago at a loss, and boy am I glad I did. What a loser this has been. My experiences trying to call the bottom in stocks like PINS, BYND, and ACB has taught me the hard way not to play companies that haven't turned a profit yet. These stocks are speculations, not investments.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.