Pinterest emits bearish signals despite gains - Analysis - 30-06-2022

Pinterest's stock (PINS) rose 1.32% in the last session, or 26 cents, settling at 19.96, with trading volumes surpassing 25  million shares, above 10-day averages of 17.4 million shares, after the company said its co-founder Bin Silberman is resigning from its executive position. 

The company's suffering negative pressure from trading below the 50-day SMA, amid the dominance of the main downward trend in the medium and short term, with negative signals from the RSI after reaching overbought levels. 

Therefore we expect the stock to return lower, targeting the support of 16.14, provided the resistance of 21.92 holds on.

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Expected trend for today: Bearish