PINS Wave Analysis and Personal ExpectationHey Folks,
Well I was working on several tickers and I thought why not sharing it with you guys. I rarely share my work as I don’t consider myself still good trader. A long long long way to go :D
However, assuming my wave analysis is correct, and actually we are still in wave 1 of bear trend, then I am expecting wave 2 to fill the gap it made several days ago then it will continue the bear trend as wave 3 to fill highlighted gap.
The weekly indicators is kinda bullish which makes me think, hmm, I might be right to fill the first gap as wave 2, and then going for wave 3.
Bear in mind that earning is coming next week and I am not an earning trader as it might change the whole thing analysis based on fundamentals.
I don’t own the stock and this is not a financial advise :D lets see how it goes
PINS trade ideas
Can you trade based on news?Bloomberg News reported Wednesday that PayPal is looking at purchasing the image-sharing social media platform, noting talks of a potential price of $70 a share, a level that would value Pinterest at around $39 billion.
In this analysis, you can see both sides of the same trade!
One is PayPal which experienced one of its worst days after the news came out they decided to buy Pinterest, on the other hand, PINS experienced its best trading day ever..!
It is very unlikely to be successful in trading/investing by following the news..!
Best,
Moshkelgosha
$PINS | WEEKLY WATCHLIST 10/25After absolutely CRUSHING it on Pinterest last week, I have an updated chart overlook for this week. Just to recap, we entered long last week at $54 on the break of the downtrend. $PINS soared up to $66 on the news that PayPal was in talks to acquire them, and we have since secured profits.
I believe that was only the beginning of the big picture, and we put in a solid wave 1 last week. Looking to start averaging into a swing position in my buy zone around $52.61-56. From there, we should see an impulsive wave 3 up to fill the rest of the daily gap taking us to $70+. Really love this setup, but remember to wait for confirmation and average into your swing position to help mitigate some risk!
Gap Fill- BullishWatching PINS closely here- Sold off after earnings, patiently waiting for a good entry- with a catalyst or an increase in buyer volume relative to seller volume should really pop- will be looking for a breakout broader market conditions permitting. Bullish, just some FIB levels along with some RSI-based supply and demand zones to keep an eye on.
- Big gap to fill on the upside
- Oversold on the RSI
- MACD is seemingly about to cross
PT1- $57.20
PT2- $58.85
PT3- $60.33+ Breakout
Let's make a deal!Paypal is in talks with Pinterest about a possible takeover. The price per share is being discussed in the neighborhood of $70. It would be around $39 billion. Potential earnings, if you go in at this point, could be 11%.
Watch closely, there could be pullbacks. You can exit the trade with a stop loss if it goes above the 61
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$PINS Power of 3I started a position in PINS this morning as it looked to retake the 50 DMA. It has now done that and is a Power of 3 Set-up. You can see my stop on the chart. If thinking of taking a trade in PINS do so at your own risk. And, be aware that earnings are coming up very soon. Ideas, not investing / trading advice.
Here's a link if you don't know a power of 3 set-up: www.t3live.com
$PINS | WEEKLY WATCHLIST 10/17Pinterest has been consolidating in a long drawn-out bull flag since February 2021. I believe we are nearing the end of this corrective phase and have developed a shorter term wedge indicated on the chart.
I am looking for a break above that wedge aka the $54 level to go long. Targets above are $58 and $61. It's important to note we have quite a large unfilled Daily gap above from roughly $61-70.
PINS BagholdersNYSE:PINS
The lines represent the price level that has been traded upon or will be traded.
The more it hit the line, the stronger the level.
It can be use to set profit taking price or stop loss price.
Every level is of same significant until order flow trades upon it.
DYODD.
Volume profile for past 200 daily shows that main volume at 71.xx.
Look out for next earning report.
AB = CDThe AB leg is Down in a bullish AB-CD pattern and in the bearish version the AB leg is upward. This pattern is not always equal and the CD leg can be shorter or an extension of the AB leg. In this case it is very close to Equal.
It is good to wait for confirmation when price hits D in this pattern. Possible stop under D.
The retracement of AB (from B to C) can be between 38.2% to 78.6% of the A-B leg, however, an ideal pattern has a retracement of 61.8% to 78.6%. This one is .786.
This differs from the pattern I call ABC bullish (which is an ABCD pattern, but the target is D) as the second valley is lower than the first one. In an ABC bullish pattern, C has to be higher than A.
Any pattern can fail. No recommendation.
I see re-opening as the trade right now so am watching this one. I was just curious as to why this one popped a bit today.
I have found it is easier to watch a few than a bunch (o:
PINS Possible Butterfly at critical inflection point. Could be getting close to a reversal here. Id really like to see 48.75 hold up, but harmonically speaking, it wouldnt be strange to hit the 1.272 on the orange butterfly. Thats also confluent with 46.23 which is the old resistance before we made the move to 68.93 - Thatd also be the first target up, 76 and 81 would be the harmonic targets, but looking at the price action correlation above 68.93, the real target would be 86 if it broke up from there
Volatile Bearish PINS movePINS has broken below a short term VWAP at 55.40 which was helping it sustain bullishness but now the contrary seems more likely to happen. I believe a large bearish move will occur within PINS due to BBW squeeze signifying that we are in a low volatile area which tends to beget a very large move. The reason I am bearish is because even though the green line crossed the red RSI we have not seen positive white energy. Not only that but the blue line looks like it is rejecting the 50 level which means we can seen a walk amongst the white/aqua lower Bollinger Band. If we see the red RSI cross below the 20 point then we will see a level 2 expansion zone to the downside meaning it may walk amongst the orange Bollinger Band. My price target is 50 since a VWAP rest there but don't be surprised if we break through that.
Bearish Signals
-Blue Line rejecting 50 lvl
-Below Bollinger basis
-Red RSI heading to lvl 2 expansion zone
-Green line rejecting 50 lvl