๐ $COMP at 57.51โ Range Bound but a Move is Brewing
$COMP is trading around 57.51, moving steadily within a tight consolidation zone after a recent short-term bounce. The price is holding above key support, but the resistance overhead continues to cap upside movement. This kind of range typically breaks with strong volume โ and when it does, it moves fast.
๐ Technical Overview
Current Price: 57.51
Support Level: 55.90
Resistance Zone: 59.40 โ 60.20
Trend: Sideways on lower timeframes; potential reversal on higher timeframes
๐ Indicators Insight
RSI: Trending slightly upward โ hovering near 52
MACD: Bullish crossover on the 4H, early signal
Volume: Flat, signaling a volatility squeeze
๐ Trade Signal โ Setup Building
If COMP breaks and closes above 60.20, backed by increasing volume, it may trigger a fresh breakout toward the next range highs.
๐ฏ Trade Plan
Breakout Entry: After confirmed candle above 60.20
Target 1: 63.00
Target 2: 66.40
Stop-loss: Below 55.40
๐ง Alternate Strategy
For risk-tolerant traders: Scalping near 56.00 support with a tight stop and watching for a bounce toward 59.00
โ ๏ธ Risk Alert
Losing the 55.00 support would invalidate bullish structure short term. In that case, downside target shifts to 51.80.
Summary:
COMP is in a pre-breakout setup. A close above resistance with strong volume could shift momentum fast. Stay alert, follow the signal โ not emotion.
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