Augury

PINS short idea

Short
NYSE:PINS   Pinterest, Inc.
$PINS hot IPO with first red day yesterday. SSR pop this morning likely shook out immature shorts. Previous days VWAP $32.40s, that's the measure or heaviness, most traders not feeling that yet. Thinking $28s possible, if they begin to feel pain. Using $33 as stop, thinking decent risk/reward here. Ideally under $32 may begin to worry FOMO chasers and offer chance to roll red on the day. Just sharing idea, as always patience and discipline see important.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.