If history is any guide, there may be trouble ahead for shares of Pinterest (NYSE:PINS). A so-called “death cross” has formed on its chart and, not surprisingly, this could be bearish for the stock.
What To Know: Many traders use moving average crossover systems to make their decisions.
When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.
Why It’s Important: The 50-day and the 200-day simple moving averages are commonly used.
The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.
That just happened with Pinterest, which is trading around $23.86 at publication time.
Remember: Seasoned investors don’t blindly trade Death Crosses.
Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.
For seasoned investors, this is just a sign that it might be time to start considering possible short positions.
With that in mind, take a look at Pinterest’s past and upcoming earnings expectations:
| Quarter | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|
| EPS Estimate | 0.01 | 0.27 | 0.06 | 0.18 |
| EPS Actual | 0.08 | 0.29 | 0.11 | 0.11 |
| Revenue Estimate | 592.99M | 886.27M | 665.47M | 673.66M |
| Revenue Actual | 602.58M | 877.21M | 684.55M | 665.93M |
Also consider this overview of Pinterest analyst ratings:
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This article was generated by Benzinga’s automated content engine and reviewed by an editor.
