Coinbase Stock Forecast
Volatile ride for Coinbase stock price on Thursday moving between $210.76 and $232.70
(Updated on May 02, 2024)
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $206.91 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 39.69% during the next 3 months and, with a 90% probability hold a price between $289.04 and $446.95 at the end of this 3-month period.
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COIN Signals & Forecast
There are mixed signals in the stock today. The Coinbase stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $239.46. On a fall, the stock will find some support from the short-term average at $220.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -18.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Coinbase stock
On the downside, the stock finds support just below today's level from accumulated volume at $216.77 and $200.80. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Coinbase finds support just below today's level at $216.77. If this is broken, then the next support from accumulated volume will be at $200.80 and $180.31.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $21.94 between high and low, or 10.41%. For the last week, the stock has had daily average volatility of 8.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COIN) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Coinbase Global, Inc. to open at $224.10, and during the day (based on 14 day Average True Range), to move between $211.00 and $246.70, which gives a possible trading interval of +/-$17.85 (+/-7.80%) up or down from last closing price. If Coinbase Global, Inc. takes out the full calculated possible swing range there will be an estimated 15.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $229.15 (0.13%) than the support at $216.77 (5.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Coinbase Global, Inc. stock A Buy?
Coinbase holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.804 Sell Candidate Unchanged
Predicted Opening Price for Coinbase Global, Inc. of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$224.10 ( 2.07%) | $228.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COIN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 246.04 | 7.51 % | |
R2 | 237.66 | 3.85 % | ||
R1 | 232.48 | 1.59 % | ||
Current price: | 228.85 | |||
Support | S1 | 215.72 | -5.74 % | |
S2 | 210.54 | -8.00 % | ||
S3 | 202.16 | -11.66 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 256.62 | 12.13 % | |
R2 | 254.17 | 11.06 % | ||
R1 | 229.15 | 0.131 % | ||
Current price | 228.85 | |||
Support | S1 | 216.77 | -5.28% | |
S2 | 200.80 | -12.26% | ||
S3 | 180.31 | -21.21% |
FAQ
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