Nov. 15 at 12:01 AM
$PINS: The current market context shows a significant bearish trend, with the last close at
$26.62, well below the 30-day moving average (MA30) of
$31.2 and the 50-day moving average (MA50) of
$32.57. The RSI at 20.03 indicates that the stock is in oversold territory, suggesting potential for a rebound, but the overall trend remains weak. The price is near the 60-day low of
$25.3, which may act as a support level.
Directional bias is bearish in the short term due to the distance from moving averages and the low RSI, indicating continued selling pressure.
Suggested entry: Consider entering a short position at
$26.50.
Stop loss: Set at
$27.50 to manage risk.
Targets: First target at
$25.50 (just above the 60D low) and second target at
$24.00, anticipating further downside if selling persists.
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