• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

Let's Take Another Look at Coinbase

COIN looks like it will pull back further.
By BRUCE KAMICH
Nov 10, 2021 | 03:05 PM EST
Stocks quotes in this article: COIN

Back on September 7  we looked at the charts of Coinbase ( COIN) and wrote that "Aggressive traders could go long COIN at $275 or better...The $339 area is our initial price objective."
 
COIN traded below our suggested stop level and then in early October began a sharp rally that briefly passed our $339 price target just the other day. COIN is now trading below our target. Let's see how we should treat this decline.  
 
In this daily bar chart of COIN, below, we can see that prices retreated to the rising 20-day moving average line. The 50-day moving average has a positive slope. The On-Balance-Volume (OBV) is strong but could make a high today. The Moving Average Convergence Divergence (MACD) oscillator is still pointed upwards but has been narrowing towards a possible crossover. 
 
 
 
In this daily Point and Figure chart of COIN, below, we can see that the software is now showing a downside price target in the $275 area. 
 
 
 
Bottom line strategy: I assume and hope that traders nailed down some or all their profits around $339 - our price target. COIN looks like it will pull back further, maybe to the $275 area. Stand aside for now.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Bitcoin | Earnings | Investing | Stocks | Technical Analysis | Trading | Financial Services | Brokerages | Cryptocurrency

More from Investing

Wary of What's Ahead With the Fed, China and 0 Days to Expiration Options

Peter Tchir
Feb 7, 2023 10:00 AM EST

All three stand to impact the markets, with the last of the trio potentially swinging market sentiment wildly from day to day.

Xylem Posts an Earnings Beat: Time to Test the Waters?

Bruce Kamich
Feb 7, 2023 9:30 AM EST

Let's check out the charts of this water technology company to see how the short and long-term are shaping up.

Hot for AI Stocks? Try This Intelligent Approach to Artificial Intelligence

Bob Byrne
Feb 7, 2023 8:30 AM EST

Rather than get burned by issues with suddenly inflated prices that eventually could crash back to earth, go with tried-and true-names in technology development.

Can Pfizer's Charts and Fundamentals Get on the Same Page?

Bruce Kamich
Feb 7, 2023 8:15 AM EST

The pharmaceutical giant gained an analyst's buy recommendation but its technical signals are lackluster at best.

Skyworks Solutions Is Improving but Doesn't Appear to Be Heading Skyward

Bruce Kamich
Feb 7, 2023 7:50 AM EST

The charts indicate that the shares of the semiconductor maker are likely to trade sideways for a while even as it gains an analyst's buy recommendation.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:22 AM EST REAL MONEY

    LIVE EVENT: Bruce Kamich and Todd Campbell Share Their Stock Market Insights

    This Monday, Feb. 6 at 12 p.m., our very own exper...
  • 02:58 PM EST REAL MONEY

    Sarge Guilfoyle Breaks Down the Jobs Report, Fed Policy and Stocks!

    Watch it here!
  • 11:35 AM EST JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Trading an Irrational Market
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login