PINS has been forming a round bottom basing pattern for the past 6mths and is already starting to cross above it's 200 day moving average. There is a good chance that we could have a golden cross (ie 50d MA crossing above the 200d MA) in the near future and WHEN that happens, then a firmer uptrend could be underway.
Meanwhile a retest of it's recent pivot low @ 22 (which is also its 50day MA) is still possible but likely not to breach this level.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Meanwhile a retest of it's recent pivot low @ 22 (which is also its 50day MA) is still possible but likely not to breach this level.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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