Pinterest stock is worth your interest
10 Mar 2020
Pinterest #PINS is a fast-growing company with favourable demographics. The stock has dropped in price while outperforming expectations. Pinterest (PINS) debuted on the public markets less than a year ago for $23.75. Since that time, Pinterest has dropped in price by a great percentage and do not think for a moment that the coronavirus is to blame 🙂
PINS stock forecast 2020
The interesting part is that Pinterest has been profitable and has beaten earnings estimates in the last quarter. So why is it that Pinterest is dropping strongly why? Because fundamentals are not that important when trading a supply and demand strategy.
Pinterest stock price forecast
I’ve read that some analysts claim that Pinterest #PINS is a buy for anyone with at least a two-year time horizon. Well, it may be that Pinterest stock will be revalued in two years, but why buy Pinterest now and lock in part of your capital in a stock that is dropping like a rock reacting to super strong weekly supply zones?
It makes no sense how some analysts and websites recommend buying Pinterest stock to hold it for two years when it is in a clear downtrend. Take a look at Pinterest #PINS supply and demand weekly timeframe analysis. There is a strong weekly supply of around $25 per share. These supply zones act like magnets to price, a price level where there is a lot of interest by professional investors.
PINS stock price prediction chart
Pinterest #PINS stock has reacted to that strong weekly imbalance as expected. This is the type of analysis we do in the Set and Forget online trading community. We actually had this imbalance shared when it was created, and that’s where we wanted to trade Pinterest #PINS stock.
Weekly is in a clear downtrend with new supply imbalances created and breaking all-time lows. Buying Pinterest #PINS stock now is a waste of resources and a silly way to lock in part of your capital by doing absolutely nothing.
Pinterest stock analysis
Pinterest #PINS is a visual discovery engine for finding ideas like recipes, home and style inspiration, new places to travel, photography and much more. Pinterest users utilize pins to share ideas amongst users. These pins are images or videos that users can post on their boards (like Facebook walls) for others to see.
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