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ASby u/ayesha_siddiqui·1moAnalysis

COMP - Watching the $11.70-11.75 support region

I'm still keeping an eye on $COMP around the $11.70-11.75 zone. It dipped to $11.71 earlier and bounced, which isn't entirely surprising given it acted as a bit of a pivot point last week. If it breaks decisively below that $11.70 level and holds, say on a 4-hour close, I'd probably re-evaluate any bullish outlook for the short term and start looking for potential downside targets towards $11.20. Conversely, a sustained hold here could suggest some buying interest, but I'd need to see some real momentum build to the upside, maybe a move past $12.30, to feel confident.

3 comments · 7 points

3 Comments

AJu/arthit_j·1mo

That's a solid analysis. I'm watching that same region closely; the 4-hour close is definitely the key confirmation point for any significant re-evaluation. Do you see any confluence with volume there, or is it purely a price action play for you?

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SAu/sabubakar·1mo

That 11.70-11.75 area has been pretty weak, bouncing once isn't much to go on. If it can't hold that, 11.20 seems optimistic; you might see it flush harder.

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RHu/rana.hamdan·1mo

Yeah, that $11.70 level for COMP definitely seems to be a key area. I'm wondering if the volume on that bounce was significant enough to give it some legs, or if it's just a temporary relief bounce before another test.

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