Coinbase: decline slows, money flow worsens
Coinbase's drop slows to 1.2% as the decline stalls between the 157 and 158 areas
Coinbase: decline slows, money flow worsens
Our view last week
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%.
This week's summary
Coinbase's decline is slowing: after last week's 3.9% drop, this week shed just 1.2%, though money flow is digging deeper into distribution and sellers remain in charge, with 71% of the week's volume. Price stays boxed between the 157 and 158 areas; the short, under management for six weeks, is still down 3.1%. With earnings due in about two weeks, caution stays the watchword.
IQS Phase
66
in tension
Signal Strength
6
decline losing steam
Sizing
MINIMUM
Ranking
#109 / 140
US stocks
Trade P&L %
-3.10%
from signal to today
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