On Tuesday, Coinbase Global earned a positive adjustment to its Relative Strength (RS) Rating, from 69 to 74.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they launch their biggest runs. See if Coinbase Global can continue to show renewed price strength and clear that threshold.
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While the stock is not near an ideal entry right now, see if it is able to form and break out of a proper base. It has recently cleared key moving averages, which is a positive sign. An increase in volume is something to watch out for as it tries to form a new base.
COIN Earnings
The company posted 0% EPS growth in the latest quarterly report, while sales growth came in at -12%. The company is expected to report its latest earnings and sales numbers on or around Nov. 7.
Coinbase Global holds the No. 18 rank among its peers in the Computer Software-Financial industry group. Guidewire Software and Intuit are also among the group's highest-rated stocks.
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