Pinterest
Short Term - We look to Sell at 22.42 (stop at 24.30)
Our outlook is bearish. The medium term bias remains bearish. We can see no technical reason for a change of trend. 20 1day EMA is at 22.00. Preferred trade is to sell into rallies.
Our profit targets will be 15.71 and 13.70
Resistance: 22.00 / 28.00 / 40.00
Support: 18.50 / 15.00 / 10.00
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After Meta Platforms issued a first-quarter revenue outlook below expectations, investors in Pinterest, which will report earnings Thursday, expect the same outcome.
My price target is the $17.50 strong support level.
So if you missed the $19 per share IPO price, and you consider it fair valued, this quarter you might have the chance to buy PINS at the same price.
