Pinterest tries to vent off oversold saturation - Analysis - 29-04-2022

Pinterest's stock (PINS) spiked 13.55% in the last session, amid the dominance of the main downward short-term trend, with negative pressure from the 50-day SMA, as the stock tries to vent off oversold saturation in the RSI, with trading volumes surpassing 30.3 million shares.

The gains came after reporting a profit of 10 cents per share, beating estimates of 4 cents, on sales of $575 billion

Now we expect the stock to return lower and target the support of 18.19.

Expected trend for today: Bearish