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  1. Home
  2. / Investing
  3. / Stocks

Let's Pin Down What's Next for Pinterest Ahead of Earnings

The charts and indicators can tell us what we might expect.
By BRUCE KAMICH
Oct 21, 2022 | 01:40 PM EDT
Stocks quotes in this article: PINS

Pinterest (PINS) will release financial results for the third quarter 2022 on Thursday, October 27, after market close. Let's visit with the charts and indicators to see what we might expect from the price action.

 
In our September 9 review of Pinterest and wrote that "Readers looking for a short-term trade could go long PINS at current levels risking to $19. The $38 area is our price target. Don't overstay your welcome." Hopefully nimble traders got to make some profits on the long side.
 
In the daily bar chart of PINS, below, we can see that prices stalled in September and October and then turned back below the 50-day and 200-day moving average lines. Trading volume looks like it has increased on the recent decline.
 
The On-Balance-Volume (OBV) line stalled in September and October and is weakening into month-end. The Moving Average Convergence Divergence (MACD) oscillator has moved back below the zero line for an outright sell signal.
 
 
In the weekly Japanese candlestick chart of PINS, below, we see a weakening picture. The shares have been unable to build on a rally in September and October. Prices are likely to close below the 40-week moving average line.
 
The weekly OBV line has been stalled the past two to three months. The MACD oscillator is below the zero line and narrowing -- not a sign of strength.
 
 
In this daily Point and Figure chart of PINS, below, we can see a potential downside price target in the $17 area.
 
 
In this second Point and Figure chart of PINS, below, we used weekly price data. Here the price target that the computer came up with is $16.
 
 
Bottom-line strategy: It looks like bullish traders are shying away from PINS ahead of earnings.
 
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TAGS: Earnings | Investing | Stocks | Technical Analysis | Media | Analyst Actions

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