Nov. 8 at 1:11 PM
$PINS: The current market context shows a last close at
$27.09, with an RSI of 32.98 indicating potential oversold conditions. The price is below the 30-day MA of 32.07 and the 50-day MA of 33.58, suggesting bearish momentum. However, the RSI nearing 30 could signal a reversal opportunity. The 60-day high is at 38.57 and the low at 25.3, indicating a range that could provide support and resistance levels.
Directional bias: Bearish in the short term due to the position relative to moving averages, but potential for a bullish reversal given the low RSI.
Suggested entry: Consider entering a long position around
$27.50, just above the last close.
Stop: Set a stop loss at
$25.00, just below the 60D low.
Targets: Aim for a target at
$30.00 (near the 30-day MA) and a secondary target at
$32.00 (near the 50-day MA).
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