| All rights reserved - Core Position Trading, LLC - 2021 | ||||
 | SPOTLIGHT STOCK CHART | |||
| ALL NUMBERS BASED ON THIS CREATE DATE: | 4/17/2021 | |||
| ANOTHER SPOTLIGHT STOCK CHART FOR SELLING PREMIUM | ||||
| DISCLAIMER: This Spotlight Stock Chart Breakdown is 100% for entertainment. I'm not recommending these stocks as a purchase. The research jump links in this blog post are ones that I use to start my stock investing research. Always do your own due diligence and never risk more money then you are willing to lose. Think of it like this blog post as seeing the world thru my eyes. | ||||
 | ||||
| PINS | LAST TRADE > | $76.22 | ||
| See Current Stock Price-PINS | 4/17/2021 | |||
| CHART BREAKDOWN - 'Seeing the World Thru my Eyes' | ||||
| Pinterest (PINS) got some bad news Apr-16 and the stock fell some -9% ... now, the news is subjective and it might turn out to be in fact news worthy of a -9% selloff in this RED HOT VERB stock ... so for me it's time to look at the chart and see if it is starting to hit some of our BUY SIGNALs ... and I think IT IS! ... its fallen into the mid 70's and some of the FLUFF has been drained out of the stock since it KILLED earnings last month. THIS is when we start thinking about taking positions in our favorite stocks ... can it FALL to support (ie $67ish) of course ... and it probably will ... it's a high flyer stocks that can trade in +/- $10 ranges in a blink ... so I would be legging in with some backup funds to dollar cost IF IT were me :) | ||||
| RSI | SMA (100) | SMA (200) | KELT MID | OBV TREND |
| 46.6 | 67 | 56.85 | 76.65 | SIDEWAYS |
 |  | | | |
| CLICK IMAGE TO SEE IT LARGER IN ITS OWN BROWSER WINDOW | ||||
| What's the RSI telling me? | ||||
| RSI - The RSI is between 40/50 which represents for me a stock that is 'for the most part' fairly valued with some good upside value if the markets are bullish | ||||
| CPT -yesterday selloff presents an interesting opportunity where PINS has pulled back where its STILL Bullish with a 47 RSI ... but NOT over heated where it was. | ||||
| Support Lines | ||||
| SMA - When looking for a 'Low Entry' purchase we would love to BUY near the 100 day or 200 day support line. Its not 100% but its a 'Buy Low' situation vs 'Buying High' | ||||
| CPT - nowhere near the 200 SMA ... but looking at the chart its breaking its 50 SMA and I would suspect its 100 SMA is near ~$67 ... so that's our next support line to watch | ||||
| Resistance Line (What Wall Street considers its Top) | ||||
CPT - because it is trading higher, might want to check resistance lines ... | See Support-PINS | |||
| Keltner Channel Breakdown | ||||
| KC - The stock is trading UNDER the KC MID line which presents more of a 'Low Entry' purchase and now is the time for me to start watching the stock. I like buying for value UNDER the MID line. | ||||
| CPT - with the recent fall, its fallen to the KC MID, right where we like to start looking as its not OVERBOUGHT its more OVERSOLD ... that's when we want to start thinking about a position | ||||
| On Balance Volume or buying momentum ... is it trending Up? | ||||
| OBV - The 'On Balance Volume' trend line is DOWN/SIDEWAYS which tells me that buying momentum has stalled. For me its touch and go as to whether I'm IN or OUT because this isn't a CLEAR indicator. For me, more no than yes right now. | ||||
| CPT - still sideways to higher ... recent selloff shows a downward move but its still in that sideways range where we know Wall Street is still buying it | ||||
| Further research with - Using charts for technical analysis, Dividend information and Earnings Report Date | ||||
| RSI, SUPPORT LINES | KELTNER, OBV | |||
| View Chart-PINS | View Chart-PINS | |||
| Is this a good company for Writing Covered Calls? ONLY you can be the judge of that :) | ||||
| Looking at a 30 day window using just (1) Strike out ... | ||||
| Current Price | Strike Price | ~Prem | 30 day return | Expiration |
| $76.22 | $80.00 | $5.37 | 12.00% | 5/21/2021 |
| Check this stocks options here > | https://finance.yahoo.com/quote/PINS/options?p=PINS | |||
| Definition of the various charting indicators I use | ||||
| RSI - The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. Source - https://www.investopedia.com/terms/r/rsi.asp | ||||
| SMA (100/200) - A simple moving average (SMA) is an arithmetic moving average calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average. ... Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react. Source - https://www.investopedia.com/terms/s/sma.asp | ||||
| KC - The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range. The Keltner Channel is used to signal possible price breakouts, show trend, and give overbought and oversold readings. Source - https://www.investopedia.com/terms/k/keltnerchannel.asp | ||||
| OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. ... He believed that when volume increases sharply without a significant change in the stock's price, the price will eventually jump upward or fall downward. Source - https://www.investopedia.com/terms/o/onbalancevolume.asp | ||||
| Disclaimer - Yes - at the time of this posting I do have a position in this equity. By posting this I am by no means recommending this equity and am not front running for its performance. I have risked my own money and am accountable for the trade results. | ||||
| Remember, the content of this site is for informational and educational purposes only. If you invest using information contained here, do so at your own risk. Please read the full disclaimer posted below and visit cptdashboard.com for my privacy policy. | ||||
| Image credits - stockcharts.com | barchart.com | foolcdn.com | yahoo.com | earningswhispers.com | and me :) | ||||
© 2021 Core Position Trading, LLC and the CPT Dashboard - All Rights Reserved | Disclaimer | |||
