Pinterest Stock Gains 3.5% As Technical Indicators Flash Bullish Signals Near Key $34 Resistance

Candlestick Theory
Recent Pinterest price action shows a bullish bias, with three consecutive white candles closing higher on increasing range. The most recent session formed a strong bullish candle, closing near the high ($33.13) after testing support at $32.31. A resistance zone emerges near $33.53-$34.00, aligning with the March 2025 swing high. Support is established at $31.90 (June 2 low), backed by the May 30 hammer candle at $30.45. The pattern suggests accumulation but requires confirmation above $34.00 to signal sustained upside.
Moving Average Theory
Pinterest’s 50-day MA (currently ~$31.80) recently crossed above the 100-day MA (~$32.10), indicating improving intermediate momentum. However, the price remains below the declining 200-day MA (~$34.30), confirming the longer-term bearish trend. The current price ($33.13) trading above both 50-day and 100-day MAs reflects short-term strength, but the 200-day MA overhead may cap rallies. A sustained break above the 200-day MA would be a significant bullish development.
MACD & KDJ Indicators
MACD shows a bullish crossover emerging, with the histogram turning positive in early June – signaling growing upward momentum. KDJ oscillators align: the K-line (62) and D-line (58) are rising toward overbought territory but not yet extreme. This confluence suggests momentum is building, though the J-line’s approach to 80 warrants caution for potential near-term exhaustion. Divergence is absent; both indicators support the current uptrend.
Bollinger Bands
Volatility contraction is evident, with bands narrowing around $32-$34 (20-day SMA at $32.50 ±5%). Price currently trades near the upper band ($33.50), testing resistance. A decisive close above $33.53 could trigger an expansion phase, targeting $35.00. Conversely, failure to breach resistance may see retracement toward the middle band ($32.50). The squeeze reflects coiling energy, implying a directional breakout is probable.
Volume-Price Relationship
Recent gains lack robust volume confirmation. The 12.4M shares traded on June 3 underperformed versus the 20.8M volume during the May 12 surge (+12.39%). This negative divergence suggests limited conviction in the breakout. Volume must expand above 15M+ on upward closes to validate sustainability. The May 29 rejection at $32.00 occurred on elevated volume (6.7M vs. avg), reinforcing this resistance.
Relative Strength Index (RSI)
The 14-day RSI reads 62, trending upward but below overbought territory (70). Momentum is neutral-bullish, with room for further upside before exhaustion risks emerge. Historically, Pinterest has reversed near RSI 75 (March 2025 peak). The current reading lacks divergence, though its position below 70 tempers immediate reversal concerns.
Fibonacci Retracement
Applying Fib levels between the March 25 high ($34.63) and May 30 low ($30.45): the 50% retracement at $32.54 was surpassed, turning support. The 61.8% level at $33.28 aligns with the June 3 close ($33.13). A close above $33.28 may target the 78.6% retracement ($34.28). Strong resistance clusters at $34.28-$34.63 (Fib 78.6% + March high).
Confluence & Outlook
Multiple signals converge: The MACD/KDJ momentum uptick, MA crossover, and price holding above Fib 50% support suggest near-term bullish bias. However, resistance at $33.28-$34.00 (Fib 61.8% + 200-day MA + swing high) presents a critical test. Volume divergence and RSI neutrality warrant caution. A breakout above $34.00 on strong volume may target $35.78 (100% Fib extension), while rejection could retest $31.90. Monitor volume for trend confirmation; failure to clear $34.00 may trigger profit-taking.