Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>PINS stock price struggles to defend the lower range support of $23.50.</a></li>
 <li><span>2</span> <a>Pinterest stock price is trading near the make-or-break level.</a></li>
 <li><span>3</span> <a>Pinterest Inc. is expected to release September 2023 quarterly earnings on October 30th after the bell.</a></li>
</ul>
<p>PINS stock price faces rejection from the $29.00 level and corrected approximately 19% from the recent swing high. It seems that the sellers are trying their best to pull the prices down below the lower-range support.&nbsp;</p>
<p>Pinterest stock price has slipped below the 50-day and 200-day EMA showcases sellers are getting active. But till the stock price holds $23.50 it will be risky to create short positions.&nbsp;</p>
<p>On a daily time frame chart, the PINS stock price seems to be stuck in a wide range between $23.50 to $29.00. Buyers and sellers both tried multiple times to break either side of the boundaries. But unfortunately, every attempt failed and prices continued to trade into the range.&nbsp;</p>
<p>At present, the Pinterest stock price is near the lower range and quarterly earnings are scheduled today. So, the volatility in the stock may rise, and a wild up move or down move may be visible.&nbsp;</p>
<p>If <a href="https://www.thecoinrepublic.com/2023/10/11/pinterest-inc-nyse-pins-is-pins-stock-ready-for-breakout/" rel="noopener noreferrer nofollow">Pinterest stock</a> price drops below $23.50, then sellers may take over the control and drag the price to $20.00. It will hurt the sentiment of long-term investors and erode the complete gains that were generated on a YTD basis.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-will-pins-stock-price-reverse-upward-after-earnings-strong"><strong>Will PINS Stock Price Reverse Upward After Earnings?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/L1A9uUDrnpWG0qRVqxWD-eTCk8nnqLFSfDHj9ze1Gqo9p3Esy2hCGO8wE-f1IG3_aTh7TiXfzkN2d06jix2B4KCqO3qXytN7OeSt3w2X4Ft2R5PEKNN48VBQEaLwE1LQyBmXOM9gsWIMgH6h3NUvu-s" alt="PINS Stock: Will Earnings Halt the Downfall in Pinterest Stock?">
  <figcaption class="wp-element-caption"><a href="https://www.tradingview.com/x/pSPC0XKy/" rel="noopener noreferrer nofollow">NYSE: PINS</a> daily chart by Tradingview
  </figcaption>
 </figure>
</div>
<p>PINS stock price is forming a bearish pattern and sellers seem more active as compared to buyers. Pinterest Inc. will report quarterly earnings today after the regular trading session closes.&nbsp;</p>
<p>The EPS estimates are $0.206 and the revenue estimates are $743.935 Million. By analyzing the previous records, the company is likely to beat the analyst estimates. But it will be interesting to see how PINS <a href="https://www.thecoinrepublic.com/2023/10/11/pinterest-inc-nyse-pins-is-pins-stock-ready-for-breakout/" rel="noopener noreferrer nofollow">stock price</a> will react after earnings.&nbsp;</p>
<p>The analysis suggests, that despite beating the estimates, the stock price may react negatively and break the $23.50 support.</p>
<h3 class="wp-block-heading" id="strong-will-pinterest-stock-price-expand-the-range-downward-strong"><strong>Will Pinterest Stock Price Expand the Range Downward?</strong></h3> 
<div class="tradingview-widget-container">
 <div id="tradingview_d9740"></div>
 <div class="tradingview-widget-copyright"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div>
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script>
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NYSE:PINS",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;Relative_Volatility_Index",
    "STD;Supertrend"
  ],
  "container_id": "tradingview_d9740"
}
  );
  </script>
</div> 
<p>Pinterest stock price has consolidated a lot so any time range may expand upside or downside. However, by analyzing the price chart, it seems that the probability of a downside range expansion remains high.&nbsp;</p>
<p>The MACD curve slips below the zero line and slopes downward. The histogram bar is red, indicating bears are strengthening their grip.&nbsp;</p>
<p>The supertrend says, until the price regains $27.46, the trend will remain down. However, the RSI at 50 says that the price might consolidate for some time in an existing range.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>PINS stock price is trading with mild bearish cues. The buyers are trying to defend the $23.50 support to halt the downfall. But sellers look more active and the possibility of an upward reversal is low.&nbsp;</p>
<p>The analysis suggests that Pinterest stock price is in the bears’ grip so the probability of a downside range expansion is high.</p>
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5>
<ul>
 <li>Resistance levels: $28.97 and $30.85</li>
 <li>Support levels: $23.50 and $20.59</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

PINS Stock: Will Earnings Halt the Downfall in Pinterest Stock?

Inhoudsopgave

Thecoinrepublic.com

Andere artikelen gepubliceerd op 30 okt 2023

Thailand’s Kasikorn Bank Acquires Local Bitcoin and Crypto Exchange!

Bearish Signals Flash for Cardano, Dogecoin, & These Altcoins: What’s Next?

Top Trader Henrik Zeberg Unveils Bullish Bitcoin (BTC) Signal With Crucial Caution

Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

Everything You Need to Know About OTX Blockchain: The Cheatsheet Guide

Bitcoin Mining Difficulty Hits New ATH, Sees Fourth Straight Uplift

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!