PINS trade ideas
PINS Bullish Engulfing PatternPINS' chart has only seen a Bullish Engulfing (BE) pattern on 4 instances since it has gone public.
1) The first was at the beginning of January 2020 - the stock rallied from $18.88 to $27.10 by Feb 7th, 2020. (43.5% increase)
2) The second was at the end of March 2020 - the stock rallied from $14.92 to $21.59 by May 5th, 2020. (44.7% increase)
3) The third was on March 17th, 2021 - the stock rallied from $74.07 to $88.75 by April 14th, 2021. (19.8% increase)
4) The 4th one just happened on May 11th, 2021.
I think this is a great opportunity to buy PINS as it has shown quick returns (around a month's timeframe) in the past after a BE pattern has been demonstrated. RSI values are also sitting very low (which means the stock is oversold). The Stochastic RSI is also indicating oversold levels. All of these indicators tell us that this is a great time to buy PINS. Please ensure that you set your target sell prices and make sure to do your own due diligence first.
pinsI like it here. If we get a flush in the market and this goes sideways I'm buying and loading the MIL account up too.
Neckline break in PINSClassic double top & neckline break. The downside could be equal to the height above the neckline. So, this thing could slid to $45
Strong support area and round numberThe stock PINS declined over the days and finally came to the biggest support area which holds now EMA200 and SMA200. Both indicators are almost at the same place at the price $60. Stock holds $60 as its strong support area with EMA200 and SMA200. Keep an eye on if it holds then it can bounce back until $70 or $80. I'm going to open a long position to this stock with good risk/reward ratio!
Pins Low risk Butterfly pattern See chart for 1.272 extension, stop below 1.414 ext. Targeting 382, 618 , 1 of pattern
Pins multiple trade ideas 65 has held (until today) first trade is a gap fill and the second a fib retrace with a higher R/R
Long position on PinterestWell tested resistance met currently after earnings, I expect at least a short term recovery up to around the 50MA area of value at around $75 so this would be a good entry trigger.
$PINS Upside PotentialHit support and trying to bounce back. We could easily see $74 again soon. Good Luck!
PINS 15% upside potential! Pinterest had a big sell off last week, falling over 7% in a day. This sell off was a result on analyst at Cleveland Research giving it some bad news expecting retail spending to decelerate. This sell off was an overreaction in my opinion, and nothing that should take away from Pinterest in the long term.
Pinterest has been killing the social media game, greatly benefiting from Covid and the lockdown. They added tons of new members to their platform (124 million users in 2020 and 17 million just in the last quarter) and are slowly moving into the e-commerce game. Something spectacular about Pinterest is how they integrate ads into users feeds. Not only are the ads targeted, but they appear on your feed like a normal pin would and don't disrupt the users experience when using the app.
Some more fundamentals to point out:
-48% of American social media users regularly use Pinterest to find and shop for products, according to Cowen & Company, compared to just 10% on Facebook's Instagram and 4% on Snap's (NYSE:SNAP) Snapchat.
-Pinterest is expanding its e-commerce features with shoppable pins, a partnership with Shopify (NYSE:SHOP), shoppable trends, and camera-based searches with its new Lens feature
-Pinterest's revenue rose 48% to $1.69 billion in 2020, even as the pandemic temporarily throttled its ad growth in the first half of the year.
-Analyst expecting a positive Earnings on Tuesday after hours.
Technicals:
-MACD cross on the 3hr and momentum is shifting to upside
-3 white soldiers pattern on the 1 hour chart
-The stock was oversold and in a good buy zone.
Although it could go either way this next week depending on the upcoming earnings, I think PINS has the ability to see a 15% gain in the near term future.
What do you guys think about PINS? Leave a comment below!
Iron Condor - PINSI love when I see high IV rank, higher the better for me.
I always sell my option to collect credit and collect theta as well.
Short the 90 strike and brought the 95 strike Calls.
Short the 65 strike and brought the 60 strike puts
PINS Comming into buy zonePINS has sold off hard following the bearish harmonic completion. All three targets on that trade have been hit. Its now coming into a buy zone so I will be looking to start adding back to my long position in the 70/72 zone.
