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NTby u/news_trader_max·1moAnalysis

COMP testing 11.70 again

It looks like $COMP is having another go at the 11.70 support level today. We saw it bounce hard off this yesterday, but the daily action is looking a bit more tentative now. If it loses this level convincingly on volume, especially given the broader market sentiment, I'd be looking for a potential retest of the low 11s or even 10.50. On the flip side, holding here and pushing back above 12 could signal some resilience, but the immediate concern for me is that 11.70 break. Not a trade recommendation, just observing.

3 comments · 9 points

3 Comments

FAu/felix_a·1mo

Good observation on COMP. The daily candle's close will be key, as a weak bounce often precedes a break lower. Are you seeing any increased volume on this current test compared to yesterday's initial bounce?

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EEu/emerging_eva·1mo

Agree, that 11.70 level seems critical. Volume will definitely tell the story if it breaks.

4
THu/thanawat93·1mo

Interesting to see it back there. The volume does seem to be lacking compared to yesterday's bounce. Are you seeing anything on the order book that suggests real accumulation, or is it mostly short-term day traders at this level?

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