PINS trade ideas
PINS short idea $PINS hot IPO with first red day yesterday. SSR pop this morning likely shook out immature shorts. Previous days VWAP $32.40s, that's the measure or heaviness, most traders not feeling that yet. Thinking $28s possible, if they begin to feel pain. Using $33 as stop, thinking decent risk/reward here. Ideally under $32 may begin to worry FOMO chasers and offer chance to roll red on the day. Just sharing idea, as always patience and discipline see important.
Pinterest Investors Gained as much as 85% Return in just 12 DaysPinterest Investors Gained as much as 85% Return in just 12 Days after its IPO
Chart Analysis - PINS3 white soldiers pattern created.
Achieved 1st up wave max level, 32.63/423.60%. Now is going up to next target 2nd up wave max, 38~40 around?
Once touched 2nd up wave max, will see adjustment. Good luck.
$PINS Pinterest Week 2 projections Watch for the bounce off of the steeper trend line at 29.67 where the bullish candle will continue up.
If that fails, watch for break through of the support at 29.53, where hopefully it’ll catch itself along the main trend.
If that fails, next major support is 27.71, where it’ll test if it can close that gap and continues back up.
RSI is showing neutral. No major points here.
Long Pinterest $PINSPinterest has been on a wild uptrend since it’s IPO.
It holds the uptrend since IPO and has not broken.
Has started a second leg of the up trend at $26.63 and has been steep uphill ever since. Given the RSI overbought territory it is hovering near, I would a expect a moderate pull back to the original trend at $27.99 and the continue on upwards from there.
If trend breaks, I’d watch for the $26.12 support to hold, which has been tested twice.
