COMP pushing out of consolidation zone.

1 thg 11, 2021

COMP has broken out of a month-long consolidation period and major demand zone between 323 and 300. On the daily chart we can see MACD about to crossover to the bullish side as well as a +50 RSI pointing upwards. Volume Accumulation Percentage Indicator has now moved to positive signalling that market participants are buying into this breakout. I expect a move towards the 0.5 fib ($400). Further than this could see us hit the 0.718 fib which coincides with a strong supply zone at $480 dollars. Comp is a slow mover so I expect this to take several days unless there is sufficient volume.