Pinterest (PINS) stock price extended its gains in its latest intraday trading, amid the dominance of a short-term corrective upward trend while moving alongside a trend line supporting this path. With its latest advance, the stock successfully overcame the negative pressure from its 50-day SMA. This comes alongside the formation of a positive divergence on the Stochastic indicators after reaching deeply oversold levels in an exaggerated manner compared to the price movement, while positive signals continue to emerge from the indicators, further strengthening the positive momentum surrounding the stock.

Therefore we expect the stock price to rise in its upcoming trading, as long as it remains above the $18.00 support level, targeting the key resistance level at $24.70.

Todays price forecast: Bullish.