By Mill Chart
Last update: Dec 5, 2024
Our stockscreener has identified a possible breakout setup on COINBASE GLOBAL INC -CLASS A (NASDAQ:COIN). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:COIN for potential opportunities.
As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.
Overall COIN gets a technical rating of 10 out of 10. Both in the recent history as in the last year, COIN has proven to be a steady performer, scoring decent points in every aspect analyzed.
For an up to date full technical analysis you can check the technical report of COIN
Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:COIN currently has a 7 as setup rating:
Besides having an excellent technical rating, COIN also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 296.19, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for COIN in the last couple of days, which is a good sign.
More ideas for high growth momentum breakouts can be found on ChartMill in our High Growth Momentum Breakout screen.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
244.2
-11.8 (-4.61%)
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