Bullish Surge Ahead: COMP Escapes Year-long Range!

COMP MARKET_MINDS BULLISH

Date: 12/07/2023 

 

Tactical Mid-term / 1 to 3 months

 

 

Scenario:

 

COMP is expected to progress towards 82, A break above 82 will open a potential towards 145 before 175.

As long as 50 remains a tactical support valid in daily close a direct bullish move is expected.

 

Technical Key Elements:

 

- COMP keeps potential to test the upper part of the blue range at 82 

- RSI indicator is positive close to resistance, but no divergence observed. 

- The Moving average crossed to the upside and act as support 

- Fibonacci key support is adjusted at 50 while the Elliot wave shows upside potential towards 82 and 145

 

Trade Idea conclusion: Buy - Conviction: Medium

 

 

:médaille:
:médaille:
Medium

 

 

· Target 2: 175

· Target 1: 145

· Confirmation level at 82

· Buy: add in dip area 60

· Stop: 50

 

 

Chart: Daily Basis (Candle Stick) - Logarithmic

 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

 


 

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