Coinbase weekly uptrend opportunity based On 1.00 Lot Calculation:
- COINBASE Global Inc. is a regulated American company, established in 2012, that offers a crypto-currency exchange, and crypto-currency storage. It offers its services to customers around the globe.
- COMPANY OPERATIONS: According to Nasdaq.com, the company primarily reaches customers via its Coinbase, Coinbase Pro, and Coinbase Wallet apps and its websites. Coinbase had a total of about 56 million retail users as of Q1 2021. Roughly 90% of the company’s revenues (as of 2020) came from the transaction fees from trading and via services such as storage and analytics.
- EVENT: Coinbase just became a publicly listed company, available for trading by the general public, on April 14, 2021. The company has positive earnings. It earned $1.62 per share the last 12 months before it went public. In 2020, the company raked in 1.3 billion dollars in revenue and it expects to rake in 5.4 billion dollars in 2021, which it would mark an increase of a whopping 315%.
- BITCOIN TRADING: Coinbase is a direct beneficiary of rising crypto-currency prices and increasing trading volume. The most famous cryptocurrency, Bitcoin, has risen 86% since the beginning of 2021, hitting a fresh- all time high of 64,854.50 dollars per Bitcoin earlier in April, which invited many traders to partake in this excitement. Bitcoin’s daily trading volume as of April 22, 2021 stood at more than 7 billion dollars of which around 17% ($1.2 billion) are pursued through Coinbase.
Coinbase Global Inc. (#COIN), April 22, 2021
Current Price: 305.00
|
Coinbase Global Inc. |
Weekly |
|
Trend direction |
|
|
370.00 |
|
|
355.00 |
|
|
330.00 |
|
|
285.00 |
|
|
265.00 |
|
|
245.00 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
Coinbase Global Inc. |
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|
Pivot Points |
||||||
|
Profit or loss in $ |
65,000.00 |
50,000.00 |
25,000.00 |
-20,000.00 |
-40,000.00 |
-60,000.00 |
|
Profit or loss in €** |
53,937.43 |
41,490.33 |
20,745.17 |
-16,596.13 |
-33,192.27 |
-49,788.40 |
|
Profit or loss in £** |
46,708.49 |
35,929.61 |
17,964.80 |
-14,371.84 |
-28,743.69 |
-43,115.53 |
|
Profit or loss in C$** |
81,237.00 |
62,490.00 |
31,245.00 |
-24,996.00 |
-49,992.00 |
-74,988.00 |
* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 11:26 (GMT+1) 22/04/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details