Compound (COMP) technical analysis:
Trade setup: Price broke above 200-day MA with huge volumes and confirmed a bullish trend reversal. It’s also broken above $70 to signal uptrend resumption and hit a high of $87. Now we’re likely to see some profit taking selling pressures, which could offer an attractive swing entry in uptrend. Where will this pullback find support and stabilize? Nearest support is at $60, which also lines up with Fibonacci levels of $62 (38%).
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
Support and Resistance: Nearest Support Zone is $60 (previous resistance), then $47. The nearest Resistance Zone is $70, then $93.
Trade setup: Price broke above 200-day MA with huge volumes and confirmed a bullish trend reversal. It’s also broken above $70 to signal uptrend resumption and hit a high of $87. Now we’re likely to see some profit taking selling pressures, which could offer an attractive swing entry in uptrend. Where will this pullback find support and stabilize? Nearest support is at $60, which also lines up with Fibonacci levels of $62 (38%).
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
Support and Resistance: Nearest Support Zone is $60 (previous resistance), then $47. The nearest Resistance Zone is $70, then $93.