Why the high growth investor may take a look at COINBASE GLOBAL INC -CLASS A (NASDAQ:COIN).

Our stockscreener has identified a possible breakout setup on COINBASE GLOBAL INC -CLASS A (NASDAQ:COIN). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:COIN for potential opportunities.

Zooming in on the technicals.

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Overall COIN gets a technical rating of 10 out of 10. Both in the recent history as in the last year, COIN has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that COIN is one of the better performing stocks in the market, outperforming 97% of all stocks. On top of that, COIN also shows a nice and consistent pattern of rising prices.
• COIN is part of the Capital Markets industry. There are 218 other stocks in this industry. COIN outperforms 99% of them.
• COIN is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month COIN has a been trading in the 221.11 - 341.75 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

For an up to date full technical analysis you can check the technical report of COIN

How do we evaluate the setup for NASDAQ:COIN?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:COIN currently has a 7 as setup rating:

Besides having an excellent technical rating, COIN also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 296.19, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for COIN in the last couple of days, which is a good sign.

Some of the high growth metrics of NASDAQ:COIN highlighted

• The EPS of COINBASE GLOBAL INC -CLASS A has exhibited growth from one quarter to another (Q2Q), with a 3.0K% increase. This underscores the company's ability to generate higher earnings and improve its financial standing.
• With consistent quarter-to-quarter (Q2Q) revenue growth of 78.77%, COINBASE GLOBAL INC -CLASS A exemplifies its ability to generate increased sales and revenue streams. This growth signifies the company's strong business performance and its potential for continued growth.
• With notable 1-year revenue growth of 88.47%, COINBASE GLOBAL INC -CLASS A exemplifies its ability to generate increased sales and revenue streams. This growth signifies the company's strong business performance and its potential for future growth.
• In the most recent financial report, COINBASE GLOBAL INC -CLASS A reported a 3.0K% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
• COINBASE GLOBAL INC -CLASS A shows accelerating EPS growth: when comparing the current Q2Q growth of 3.0K% to the previous year Q2Q growth of 99.59%, we see the growth rate improving.
• COINBASE GLOBAL INC -CLASS A has shown positive growth in its operating margin over the past year, indicating improved operational efficiency. This growth highlights the company's ability to effectively manage costs and maximize profitability.
• COINBASE GLOBAL INC -CLASS A has experienced notable growth in its free cash flow (FCF) over the past year, signaling improved cash generation and strong financial performance. This growth suggests the company's ability to generate excess cash for reinvestment or shareholder returns.
• COINBASE GLOBAL INC -CLASS A demonstrates a strong Return on Equity(ROE) of 17.89%. This indicates the company's ability to generate favorable returns for shareholders and reflects its efficient utilization of capital. COINBASE GLOBAL INC -CLASS A shows promising potential for continued success.
• Maintaining a Debt-to-Equity ratio of 0.48, COINBASE GLOBAL INC -CLASS A demonstrates a conservative financial approach. This signifies the company's focus on minimizing debt burdens while preserving a solid equity position.
• The ownership composition of COINBASE GLOBAL INC -CLASS A reflects a balanced investor ecosystem, with institutional shareholders owning 48.68%. This indicates a broader market participation and potential for increased trading liquidity.
• COINBASE GLOBAL INC -CLASS A has exhibited strong Relative Strength(RS) in recent periods, with a current 97.37 rating. This indicates the stock's ability to outperform the broader market and reflects its competitive position. COINBASE GLOBAL INC -CLASS A shows promising potential for continued price momentum.

More ideas for high growth momentum breakouts can be found on ChartMill in our High Growth Momentum Breakout screen.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.