Pinterest (PINS) - Trade Stocks

Pinterest (PINS)

By Wed, Jun 9, 2021

Our Unusual Options Scan is picking up a lot of bearish flow on the options side.

This scan shows big heavy bets by large institutions through unusual options activity, and right now it’s detecting big time put activity — especially in today’s Chart of the Week, Pinterest (PINS).

There’s a lot of aggressive bets going on, showing a lot of divergence from an intermarket standpoint.

With bonds rolling over commodities, the overwhelming evidence suggest that we want to continue to short stocks.

With a particularly clean level and unusual bearish activity in PINS, we are short if the stock is below $59.

Above that level, we’re just watching, but if we’re below $59, we’re short with a price target of $40.

Til next week, good trading,

JC Parets

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About the Author

JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.