The market has been shaky, but you already know that.
Emotions fly through the roof, while many stock charts knock on the ocean’s bottom…
With so much uncertainty up in the air, it has become very hard to bet on what happens tomorrow… much less on what happens a month from today!
Yet, you may be surprised to hear that this is exactly what our very own Ben Sturgill is doing!
He’s arguing Pinterest (PINS) stock could be in for some GAINS over the next month!
Better yet, he’s putting his hard-earned money on the line.
PINS Rough Year
By now, you may have completely forgotten about PINS – once any momentum trader’s darling.
And if you did, I can’t blame you one bit.
Pinterest stock has been through a lot over the past year… and none of it was particularly positive.
In fact, it’s by far one of the biggest losers of 2021 and 2022 as well.
See for yourself Ben’s recently shared comparison:
But, much like all good things, all bad things should come to an end, right?
In what may seem like the unlikeliest time of all, Ben’s thinking the worst may be behind PINS. Temporarily at least.
Here’s what he had to say:
“But to some, there isn’t much to say now, since the stock has seen ‘its day in court’ so to speak, with the market judging the value of PINS down here. Except there is!“
Hence, his trade idea…
Ben’s PINS Trade
Ben’s idea revolves around 2 key points:
- Stock has gone far too low without bounces, the market seems to assign virtually no value to the company – which could be a mistake!
- The technicals are too good to ignore, more on that below.
Here’s the chart Ben wants everyone to see:
He specifically points out the discrepancy building between the SMA’s, specifically the 20 and 200, both from a time and percentage basis, coupled with the velocity of volume at this price level.
Ben thinks the name may be due for a notable bounce here and here’s the contract Ben’s considering:
18 MARCH 22 $32.50 CALL = .58
EXIT TARGET = AT OR ABOVE 3.00
I’ll let Ben walk you through the rest of if:
“I’m looking for a 21% move in PINS stock to the upside in 31 days.
Whoa, that’s aggressive. Yet to me, it’s also warranted.
This is a ‘crushing it’ trade to me if there ever was one. To be frank, I think I’ll see my exit sooner rather than later, but it might not come at all. Which is a risk we all take when trading options.“
Now, let me note that Ben is waiting for the stock to establish above $27 before he enters – and that might be happening right as we speak, here’s the chart from today:
Let’s see if the stock gives him an entry today.
If you want to see his live entries, exits, and thoughts, be sure to pay him a visit in The Workshop.
