PINS in a "managed" channel or can the breakout be sustained?
- In a "buy channel" since Oct 2022 with well controlled selling every-time it has hit the upper channel line
- Price action is at the top of channel again and had a breakout on 2 Feb but was not able to sustain the breakout and has since fallen back into the trend channel
- The bottom of the trend channel is between 23/24 (Note importantly that the post-earnings afterhours low is coincidentally also at the 23/24 range)
30mins Chart (including post earnings afterhours action)
- As can be seen, a big recovery after the earnings call from the initial drop when earnings released
- Gap to be filled between 26/27
- Price support around 25 (big support coming in from 23 upwards)
For me, I am looking at how it continues in the buy channel (between 23 and 29)
But PINS does look to have formed a good support foundation past months.
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- melson·02-07TOP[Happy]broke out of resistance zone at 26, facing resistance zone at 30.1Report
- MaudNelly·02-0725 USD will be a good support price.1Report
- BarbaraWillard·02-07I think it will continue in the buy channel.1Report
- AndreaClarissa·02-07PINS will rise from up and down.1Report