Coinbase's decline, under management: week six
Coinbase drops 3.9% as sellers retake control of the short
Coinbase's decline, under management: week six
Our view last week
Coinbase is in week 5 of a sell signal, and the week just closed surprised with an 11% jump, backed by 75% buy volume. The technical picture is softening but still mixed: MACD turns positive again, yet CMF stays in distribution and momentum hits its most negative reading of the past four weeks. Trading not recommended per our model.
This week's summary
Coinbase shares gave back 3.9% this week, handing back part of last week's 11% surge: sellers took the wheel again, with 75% of the week's volume on the sell side. Money flow, which had just steadied, slipped back into distribution, while price sits boxed into a very tight band in the 159 area. The short, opened six weeks ago, is now down 4.4%.
IQS Phase
66
in tension
Signal Strength
6
decline losing steam
Sizing
MINIMUM
Ranking
#81 / 137
US stocks
Trade P&L %
-4.38%
from signal to today
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