Trading Coinbase Global Inc. Class A $COIN With Integrated Risk Controls

June 06, 2023, 09:29 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Coinbase Global Inc. Class A (NASDAQ: COIN) report below can help you, but we have more details too. The trading plans for COIN, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for COIN

• Buy COIN slightly over 40.97 target 56.72 stop loss @ 40.85 Details

The technical summary data tells us to buy COIN near 40.97 with an upside target of 56.72. This data also tells us to set a stop loss @ 40.85 to protect against excessive loss in case the stock begins to move against the trade. 40.97 is the first level of support below 47.27 , and by rule, any test of support is a buy signal. In this case, support 40.97 would be being tested, so a buy signal would exist.

• Short COIN slightly under 56.72, target 40.97, stop loss @ 56.88 Details

The technical summary data is suggesting a short of COIN as it gets near 56.72 with a downside target of 40.97. We should have a stop loss in place at 56.88though. 56.72 is the first level of resistance above 47.27, and by rule, any test of resistance is a short signal. In this case, if resistance 56.72 is being tested, so a short signal would exist.

Swing Trading Plans for COIN

• Buy COIN slightly over 56.72, target 58.67, Stop Loss @ 56.56 Details

If 56.72 begins to break higher, the technical summary data tells us to buy COIN just slightly over 56.72, with an upside target of 58.67. The data also tells us to set a stop loss @ 56.56 in case the stock turns against the trade. 56.72 is the first level of resistance above 47.27, and by rule, any break above resistance is a buy signal. In this case, 56.72, 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.

• Short COIN slightly near 56.72, target 40.97, Stop Loss @ 56.88. Details

The technical summary data is suggesting a short of COIN if it tests 56.72 with a downside target of 40.97. We should have a stop loss in place at 56.88 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, 56.72, 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.

Day Trading Plans for COIN

• Buy COIN slightly over 56.72, target 58.67, Stop Loss @ 56.59 Details

If 56.72 begins to break higher, the technical summary data tells us to buy COIN just slightly over 56.72, with an upside target of 58.67. The data also tells us to set a stop loss @ 56.59 in case the stock turns against the trade. 56.72 is the first level of resistance above 47.27, and by rule, any break above resistance is a buy signal. In this case, 56.72, 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.

• Short COIN slightly near 56.72, target 40.97, Stop Loss @ 56.85. Details

The technical summary data is suggesting a short of COIN if it tests 56.72 with a downside target of 40.97. We should have a stop loss in place at 56.85 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, 56.72, 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.

COIN Ratings for June 06:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	40.97
P2	60.11	58.67	56.72
P3	65.29	63.96	76.89

Support and Resistance Plot Chart for COIN

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