Trading in Coinbase Global, Inc. (NASDAQ:COIN) is quiet on Tuesday. The shares are getting close to the $182 level.
Coinbase is the Stock of the Day. It is in a trading range, and these dynamics offer profit opportunities.
• Coinbase Global shares are experiencing downward pressure. What’s driving COIN stock lower?
Some traders like to buy at the bottom of the range and sell near the top of the range. Trading ranges have support at the lower end and resistance at the top.
Support is a level where there is a large amount of demand, or buy orders, for a stock. This is why stocks stop going lower when they reach support.
Stocks tend to rally after they reach support. This happens when some of the buyers who created the support become anxious and …
