A request came in to look at Coinbase’s stock, symbol COIN.
Starting from the weekly time frame, COIN trades below its best respected resistance lines – the 7-week SMA for body and the 8-week SMA for wick – as of November-December 2021:
A daily view shows a tighter resistance area that is best defined by the 31-day SMA (body) and 36-day SMA (wick) lines. Similarly to the weekly lines the daily lines were established at the end of November beginning of December time frame:
Drilling further down to the hourly chart, the body (243-hour SMA) and the wick (245-hour SMA) resistance lines are coupled pretty tight, both registered as the best respected resistance lines on December 1st, 2021:
On the intraday 5-minute chart, COIN finished Friday, February 18th, below the barrier of its 128-period EMA (body), backed up by the 150-period EMA (wick) resistance lines. These red and blue lines filled the support role for the stock on Wednesday, February 16th:
Day traders that are interested in a minute view can see that COIN ended Friday at its best respected support area: the 163-minute SMA (body) and the 177-minute SMA (wick):
Zooming in:
Thank you for the reader who sent the request.