Pinterest price driven lower alongside downward correctional trend line - Forecast today - 22-04-2024

Pinterest’s stock price (PINS) fell in the intraday levels, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, countered with positive signals from the RSI after reaching oversold levels, as the stock tries to vent off oversold saturation, however, negative pressures seem to take the upperhand. 

Therefore we expect more losses for the stock, targeting the support of $30.85, provided the resistance of $35.35 holds on.

Forecast today: Bearish