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Coinbase Global Inc [NASDAQ: COIN] Sees Decrease in Stock Value

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Coinbase Global Inc shares valued at $1,289,590 were purchased by ALESIA HAAS on Nov 20 ’24. At $318.18 per share, ALESIA HAAS acquired 4,053 shares.

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Also, LAWRENCE J BROCK &JENNIFER M B purchased 14,933 shares, netting a total of over 4,738,805 in proceeds.

Before that, EMILIE MONICA CHOI had added 13,799 shares to its account. In a trade valued at $4,376,231, the Officer bought Coinbase Global Inc shares for $317.14 each.

As published in their initiating research note from Monness Crespi & Hardt on October 28, 2024, Coinbase Global Inc [COIN] has been a Buy and the price target has been revised to $245. Analysts at B. Riley Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in late October. As of September 06, 2024, Barclays has increased its “an Underweight” rating to a “an Equal weight” for COIN. Earlier on July 23, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for COIN stock which previously was a “a Neutral”.

Analyzing COIN Stock Performance

During the last five days, there has been a surge of approximately 5.88%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 69.75%. Shares of the company reached a 52-week high of $341.75 on 11/20/24 and a 52-week low of $114.51 on 02/07/24. A 50-day SMA is recorded $211.35, while a 200-day SMA reached $216.58. Nevertheless, trading volume fell to 25.01 million shares from 22.88 million shares the previous day.

Support And Resistance Levels for Coinbase Global Inc (COIN)

According to the 24-hour chart, there is a support level at 279.02, which, if violated, would cause prices to drop to 262.81. In the upper region, resistance lies at 320.97. The next price resistance is at 346.71. RSI (Relative Strength Index) is 60.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 31.92, which suggests the price will increase in the coming days. Percent R is at 28.13%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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