Death Cross Looms Over Coinbase Glb Investors
Portfolio Pulse from Benzinga Insights
A death cross has formed on Coinbase Glb's (NASDAQ:COIN) chart, which could be bearish for the stock. The death cross occurs when the 50-day moving average moves below the 200-day moving average, signaling a possible change in the long-term trend.
June 22, 2023 | 2:47 pm
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Coinbase Glb (NASDAQ:COIN) faces a death cross, which could indicate a bearish trend. Seasoned investors may use this as a signal to consider short positions.
The death cross is a technical indicator that occurs when a stock's 50-day moving average crosses below its 200-day moving average. This is generally considered a bearish signal, suggesting that the stock's long-term trend may be changing. In the case of Coinbase Glb, the death cross could lead to a decline in the stock price, making it a potential short opportunity for seasoned investors.
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