Is COIN okay now?
COIN is in a bit of a controversy with the SEC and potential regulatory charges. On the 4H
chart it had a big plunge from the high market valuation it received over the month since
favorable earnings. It has reversed after a few days of Doji candles showing market indecision.
The MACD indicator shows upwards K/D lines having crossed under the histogram on the day
before this idea. The mass index indicator has given a reversal signal since the value first
crossed above 27 and then triggering by crossing under 26.5. Having reversed, can COIN
maintain the current trend ? I will find out by taking a long trade with potential 15% upside
essentially betting that the dust will settle and it will be business as usual with demonstrated
increasing revenues on the recent earnings report.
chart it had a big plunge from the high market valuation it received over the month since
favorable earnings. It has reversed after a few days of Doji candles showing market indecision.
The MACD indicator shows upwards K/D lines having crossed under the histogram on the day
before this idea. The mass index indicator has given a reversal signal since the value first
crossed above 27 and then triggering by crossing under 26.5. Having reversed, can COIN
maintain the current trend ? I will find out by taking a long trade with potential 15% upside
essentially betting that the dust will settle and it will be business as usual with demonstrated
increasing revenues on the recent earnings report.
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