Nov. 21 at 2:53 AM
$PINS is currently trading at
$24.81, significantly below its 30-day moving average (MA30) of
$30.35 and 50-day moving average (MA50) of
$31.71, indicating a bearish trend. The RSI at 19.0 suggests the stock is oversold, which may lead to a potential reversal or short-term bounce. However, the proximity to the 60-day low of
$24.62 raises caution about further downside risk.
Market context indicates a weak momentum, but an oversold condition could provide a buying opportunity. Suggested entry is at
$25.00, slightly above the last close to confirm a reversal. Set a stop loss at
$24.50 to limit potential losses.
Targets can be set at
$27.00 (near the MA30) and
$28.50 (a psychological resistance level). This trade plan leverages the oversold RSI while respecting the bearish trend indicated by the moving averages and recent price action.
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