Laggards Lag:

It is always a good use of time to determine which names are not keeping pace with a strong overall group. This type of action is often a tell and could see weak relative strength if the particular space begins to falter. Below is the chart of COIN and this is 47% off its most recent 52-week high, without the courtesy of a 2:1 split (a poor stab at humor), and that is notable with the IGV trading just 1% off its annual peak. Five of the last 6 weeks have CLOSED at lows for the WEEKLY range, a red flag, and the last 3 have all CLOSED very tight, all within just 56. of each other. And we know breaks from that type of coiling behavior can be powerful. It recorded a double top near 85 with a bearish shooting star on 2/3 and then a bearish engulfing candle on 3/22 which lost more than 8%, and then fell another 14% the very next session. Last Friday on a very strong tape it CLOSED essentially UNCH and aggressive traders can lay some short here and add to BELOW the bull flag with a sell stop below 55. We know from FALSE moves come fast ones in the opposite direction.

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