(COIN) Technical Pivots with Risk Controls

July 28, 2024, 18:48 pm ET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Coinbase technical pivots are designed to help traders identify key levels of support and resistance, which can be used to determine how to trade the stock, whether to buy or sell, and how to manage risk.

The technical summary data is suggesting a buy of COIN as it gets near 218.47 with an upside target of 262.28. We should have a stop loss in place at 217.84 though in case the stock begins to move against the trade. 218.47 is the first level of support below 242.93 , and by rule, any test of support is a buy signal. In this case, support 218.47 would be being tested, so a buy signal would exist.

The technical summary data is suggesting a short of COIN as it gets near 262.28 with a downside target of 218.47. We should have a stop loss in place at 263.04though. 262.28 is the first level of resistance above 242.93, and by rule, any test of resistance is a short signal. In this case, if resistance 262.28 is being tested, so a short signal would exist.

If 262.28 begins to break higher, the technical summary data tells us to buy COIN just slightly over 262.28, with an upside target of 269.99. The data also tells us to set a stop loss @ 261.52 in case the stock turns against the trade. 262.28 is the first level of resistance above 242.93, and by rule, any break above resistance is a buy signal. In this case, 262.28, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

The technical summary data is suggesting a short of COIN if it tests 262.28 with a downside target of 241.89. We should have a stop loss in place at 263.04 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 262.28, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

If 262.28 begins to break higher, the technical summary data tells us to buy COIN just slightly over 262.28, with an upside target of 269.99. The data also tells us to set a stop loss @ 261.67 in case the stock begins to move against the trade. 262.28 is the first level of resistance above 242.93, and by rule, any break above resistance is a buy signal. In this case, 262.28, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

The technical summary data is suggesting a short of COIN if it tests 262.28 with a downside target of 242.07. We should have a stop loss in place at 262.89 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 262.28, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Coinbase Global Inc (COIN) available here: COIN.

COIN Ratings for July 28:

AI Generated Signals for COIN

Blue = Current PriceRed= ResistanceGreen = Support

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