Core Insights - Pinterest (PINS) stock has dropped to its lowest level since June, experiencing five consecutive losses and reaching a support level at $33, but has shown signs of recovery today [1] Price Movement and Trends - PINS is currently within 0.75 of the 260-day trendline's 20-day average true range (ATR), having spent over 80% of the last 10 days and two months above this trendline [2] - Historical data indicates that similar signals in the past three years have led to an average gain of 12.8% one month later, suggesting a potential price target of just under $38 [2] Market Sentiment - The current put/call open interest ratio (SOIR) of 1.11 ranks in the 96th percentile, indicating a strong bearish bias among short-term options traders [4] - The Schaeffer's Volatility Index (SVI) for PINS is at 39%, which is in the 12th percentile of annual readings, suggesting that options traders are anticipating low volatility [5]