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US Technical Analysis Report

One NYSE– Listed Technology Stock Poised for Upside as Russell 3000 Inched Higher– PINS

May 10, 2024

PINS:NYSE
Investment Type
Large-cap
Risk Level
Action
Rec. Price (US$)

Company Overview:  Pinterest, Inc. (NYSE: PINS) engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a positive note and continued the momentum. The index made high of 2983.817 during the week and settled at 2983.298 with a week-to-date (WTD) gain of ~1.678 percent on May 9, 2024Other major indices, such as S&P 500 and NASDAQ Composite displayed upside move for the week. On May 9, 2024, the S&P 500 index settled at 5214.07 with a WTD gain of ~1.68 percent, while the NASDAQ Composite Index settled at 16346.265 with a WTD loss of ~1.176 percent.  

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one NYSE-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Pinterest, Inc. (NYSE: PINS) for the next 2-4 weeks duration: 

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Disclaimer-

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