Nov. 15 at 10:07 PM
$COIN is currently trading at
$284.0, significantly below its 30-day moving average (MA30) of
$335.54 and 50-day moving average (MA50) of
$333.47, indicating bearish momentum. The RSI at 28.38 suggests that the stock is oversold, which may lead to a potential reversal or short-term bounce. However, the price is still within the 60-day range of
$268.16 (low) to
$402.16 (high), indicating volatility.
For a trade plan, consider entering a long position around
$280, targeting a bounce towards the MA30 at approximately
$335. Set a stop loss at
$270 to manage risk. If the price moves favorably, aim for two targets: the first at
$320 (near MA50) and the second at
$335 (MA30). This plan leverages the oversold condition while acknowledging the prevailing downtrend.
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