Coinbase, sell signal week 9
Coinbase stock: down 7.6% as the week 9 sell signal keeps its footing
Coinbase, sell signal week 9
Our view last week
In our technical analysis of Coinbase stock, the week closes almost flat, up 0.7%, but under the surface sellers are tightening their grip: 84% of volume came on the sell side, up from 71% the week before, and the last candle shows sellers extremely dominant, with buyers collapsing. Money flow stays in distribution, though slightly less negative than 7 days ago. With earnings due this very week, volatility could pick up fast.
This week's summary
Coinbase stock, in this week's technical analysis, is in the 9th week of a sell signal: the week just closed dropped 7.6%, with 77% of volume on the sell side and the last candle showing sellers extremely dominant. Distribution is deepening on the daily chart, last week's earnings are now behind it, and the price has retested the area of its recent lows.
IQS Phase
70
in tension
Signal Strength
33
decline starting to make lower lows
Sizing
REDUCED
Ranking
#31 / 138
US stocks
Trade P&L %
+4.03%
from signal to date, no stop loss
Rank position
ranks 31st among the 138 sell signals for US stocks in our ranking, with a signal strength of 33 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein strong phase
Performanceweekly +1.12% · monthly +3.94%
COIN belongs to the financials sector (reference ETF XLF). The sector is classified in strong phase according to our weekly reading.
restricted Platinum content