#PENGU/USDT
Entry:
Entry: $0.01369
DCA: $0.01288
Targets:
Target 1: $0.01480
Target 2: $0.01577
Target 3: $0.01690
Stop Loss:
4H close below $0.01200
Why this trade?
PENGU is showing recovery signs after a recent flush
Price is trading above the 4H 50 SMA and 50 EMA — both are bullish signals
BY Technical CRYPTO Analyst
The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothers—or maybe the next Silverado?—echoed through the canyons of Wall Street as investors prepared for the worst.
Pinterest (PINS) closed at $71.75 in the latest trading session, marking a -0.18% move from the prior day. This change lagged the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.9%, and the Nasdaq, a tech-heavy index, lost 0.59%. Heading into today, shares of the digital pinboard and shopping tool company had lost 17.41% over the past month, lagging the Computer and Technology sector's loss of 5.38% and the S&P 500's gain of 0.71% in that time. Investors will be hoping for strength from PINS as it approaches its next earnings release. The company is expected to report EPS of $0.07, up 170% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $467.87 million, up 72.05% from the year-ago period.
Technical CRYPTO Analyst from tw