Coinbase Global Stock Bounces Back as Bitcoin Recovers

Quarter-to-date, COIN is up more than 39%

Digital Content Manager
Nov 29, 2021 at 10:46 AM
facebook twitter linkedin


The shares of Coinbase Global Inc (NASDAQ:COIN) are rebounding this morning, last seen up 3.1% at $312.45, as Bitcoin (BTC) recovers from last week's selloff, which was sparked by the new Covid-19 omicron variant. Last time we checked in on the equity, it was plunging on the heels of a third-quarter revenue miss

The $300 level seems to have contained Coinbase Global stock's recent pullback, which came after the equity's rally was rejected by the $370 level earlier this month. The 40-day moving average is also providing a floor for the shares today, after COIN slipped below it for the first time since October on Friday. Quarter-to-date, the security remains up 39.2%.

Analysts are optimistic towards the equity, with 12 of the 18 in question sporting a "buy" or better, while six say "hold" or worse. Plus, the 12-month consensus target price of $408.70 is a 30.9% premium to current levels.

 

 

 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners