Coinbase Global Inc. (COIN) reports Q4 2021 earnings after Thursday’s closing bell, with an expected profit of $2.16 per-share on $1.98 billion in revenue. The stock came public at 381 in April 2021 and topped out, ahead of a decline that broke 8-month support at 215 in January. It’s now trading just 30 points above the all-time low at 162.20, ahead of a Biden executive order that lays the groundwork for a government-wide strategy to regulate digital assets. A sell-the-news reaction is likely throughout the crypto universe.
Home Depot Inc. (HD) reports Q4 2021 results on Tuesday, with analysts looking for a profit of $3.18 per-share on $34.85 billion in revenue. If met, earnings-per-share (EPS) will mark a 20% increase compared to the same quarter last year. The stock hit an all-time high at 420.61 in December and sold off, entering a correction that’s now relinquished 16% year-to-date. Price action has been testing 200-day moving average support for the last month, raising the stake ahead of this week’s confessional.
Virgin Galactic Inc. (SPCE) fell apart in October after delaying the first tourist space flight by one year, citing design issues. The decline pierced May support in the mid-teens in December, ahead of continued downside that ended within 70 cents of 2019’s all-time low in January. Ticket sales for the general public went on sale last week, triggering a round of excitement, followed by a deep fade. The stock could take another shot at higher ground after this week’s Q4 2021 release.
Cardano (ADA) has dropped 68% since posting an all-time high at $3.10 in September, undercutting par ($1.00) for the first time in 9 months. This is a critical price level, generating multiple 2021 recovery waves. It tagged support for the first time since July in January, yielding an uptick that booked little upside before sellers in force returned two weeks ago. The crypto hit an all-time low at $0.9146 over the holiday, raising odds that support has now become resistance.
iShares MSCI Emerging Markets Index Fund (EEM) has struggled since February 2021, dropping more than 15%. The selloff has tracked a declining channel, with resistance aligned at the 200-day moving average. The monthly Stochastic oscillator has just crossed into the first buy cycle since 2018, at the same time that Omicron is rapidly receding from the population. This harmonic convergence could signal a strong rally, potentially lifting the fund to an all-time high.
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Disclosure: the author held Virgin Galactic in a family account at the time of publication.