$COMP TRADE SETUP
Bullish breakout from Channel Down pattern was confirmed by break above horizontal resistance ($60) and 200-day MA ($60). This could signal a bullish trend reversal to Uptrend, with near-term +15% upside potential to $68-70.
Resistance Breakout. Once a price breaks above a resistance zone, it signals that buyers have absorbed all the supply from sellers at this level and price can resume its advance. Following a resistance breakout, the next closest resistance zone becomes a price target.
Nearest Support Zone is $50.00, then $45.00. Nearest Resistance Zone is $60.00, then $68.00.
