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- 1 Pinterest Inc. is significantly less volatile than the other US stocks over the last three months.
- 2 PINS stock price increased by 3.52% over the past week and the current volume is below average.
- 3 Pinterest Inc. ( NYSE: PINS) stock’s 52-week price range is around $20 – $30.
The Pinterest stock recently publicized its Q2 earning report on August 1st, 2023, the reported earnings gave a positive surprise by 76.91% from the estimated earnings. Moreover, the reported revenue also gave a positive surprise by 1.68% from the estimated revenue.
PINS stock average volume is 11.347 Million and the current volume is 9.199 Million where the current volume is below average volume.
Pinterest Inc. (PINS) stock market capitalization is $17.732 Billion and the total revenue is $2.803 Billion. Moreover, the stock’s basic EPS is -$0.43 and the price-to-earnings ratio is -60.9.
PINS stock is expensive, as reported by the financial analysis website Simply Wall St., based on its ratio of Price-To-Sales which is 6.2x compared to the estimated Fair ratio of Price-To-Sales which is 3.9x and compared to the average of the US interactive media and service’s industry which is 1.3x.
According to the analyst’s future growth forecasts on the financial website Simplywall, highlights that PINS stock is predicted to become profitable over the next three years. Moreover, PINS stock’s current revenue generated per year is 12.4%, and it is predicted to increase by 20% per year.
Technical Analysis of PINS Stock Price in 1-D Timeframe
The price action shows that Pinterest Platforms Inc. ( NYSE: PINS) stock price took support at $23.42 as liquidity was present at this level, the price showed a swift uptrend and reached a high at $30.82 by July 18th, 2023. Thereafter, the PINS stock is in a continuous downtrend from the last month making lower lows and highs.
At the time of publication, the PINS Stock’s current price is trading around $26.45 trying its best to sustain CMP and facing the trendline, and most probably Pinterest Inc stock might decline more and may drop back to the liquidity demand zone.
Therefore, if Pinterest fails to maintain its current level, the PINS price could continue to drag downwards and hit the nearest support levels around $23.42 and $20.64.
However, if the stock price sustains the current level and Pinterest’s price increases, then it might reach the nearest resistance levels of $29.22 and $30.82.
At the time of publishing, Pinterest Inc. (NYSE: PINS) is trading below the 20 and 50 EMA which is rejecting the price, and 100, and 200 EMA is supporting the price. As per the investor’s sentiments, if more selling volume adds up in the PINS stock then the price might conquer supporting EMA’s, by making downtrend lower highs and lows. Conversely, if more buying volume adds up then the PINS price might conquer rejecting EMA.
The current value of RSI is 46.46 points. The 14 SMA is below the median line at 45.56 points which indicates that Pinterest stock is in bearish territory and the RSI line and 14 SMA are intertwined with each other and indicating bearish signals.
The MACD line at 0.3267 and signal line at 0.1982 are below the zero line and both lines have crossed each other. A bearish crossover is noticed in the MACD oscillator which expresses bearish hints for the Pinterest stock price.
Summary
Pinterest Inc. (NYSE: PINS) indicates that the traders and investors of the stock price are bearish on the 1-D time frame. The price action for PINS stock predicts a bearish outlook at the time of publishing. The technical analysis tools of Pinterest stock price also support bearish hints. The EMA, RSI, and MACD highlight downward hints and predict that a downtrend may continue in Pinterest’s stock price.
Technical Levels
- Support levels: The nearest support levels for Pinterest stock price are $23.42 and $20.64.
- Resistance levels: The nearest resistance levels for the Pinterest stock price are $29.22 and $30.82.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
