Why the high growth investor may take a look at NASDAQ:COIN.

Our stock screener has identified COINBASE GLOBAL INC -CLASS A (NASDAQ:COIN) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:COIN.

Analyzing the Technical Aspects

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

We assign a technical rating of 8 out of 10 to COIN. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• Looking at the yearly performance, COIN did better than 96% of all other stocks. We also observe that the gains produced by COIN over the past year are nicely spread over this period.
• COIN is one of the better performing stocks in the Capital Markets industry, it outperforms 99% of 222 stocks in the same industry.
• COIN is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so COIN is lagging the market slightly.
• In the last month COIN has a been trading in the 240.77 - 310.61 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of COIN contains the most current technical analsysis.

Why is NASDAQ:COIN a setup?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:COIN this score is currently 7:

COIN has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 298.01. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 277.35, a Stop Loss order could be placed below this zone.

Looking into the high growth metrics of COINBASE GLOBAL INC -CLASS A

• 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
• 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.
• The 1-year revenue growth of COINBASE GLOBAL INC -CLASS A (88.47%) has been strong, reflecting the company's ability to generate consistent sales growth. This growth suggests the company's ability to meet customer needs and expand its market share.
• The quarterly earnings of COINBASE GLOBAL INC -CLASS A have shown a 3.0K% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising 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.
• With positive growth in its operating margin over the past year, COINBASE GLOBAL INC -CLASS A showcases its ability to improve profitability through effective cost control and operational efficiency. This growth underscores the company's commitment to enhancing its financial performance.
• COINBASE GLOBAL INC -CLASS A has shown positive growth in its free cash flow (FCF) over the past year, indicating improved cash generation and financial strength. This growth highlights the company's ability to effectively manage its cash flows and generate surplus funds.
• COINBASE GLOBAL INC -CLASS A has a healthy Return on Equity(ROE) of 17.89%. This demonstrates the company's efficient utilization of capital and indicates its commitment to driving profitability.
• COINBASE GLOBAL INC -CLASS A exhibits a favorable Debt-to-Equity ratio at 0.48. This highlights the company's ability to limit excessive debt levels and maintain a strong equity base, demonstrating its financial stability and risk management practices.
• COINBASE GLOBAL INC -CLASS A demonstrates a balanced ownership structure, with institutional shareholders at 55.76%. This indicates a diverse investor base, which can contribute to price stability and potential future growth.
• COINBASE GLOBAL INC -CLASS A has exhibited strong Relative Strength(RS) in recent periods, with a current 96.06 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.