$COMP

Bullish breakout from Descending Triangle pattern could see the price revisit $50 or even $55. Stop Loss at $38, just below the $40 support.

Pattern: Price is trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend. Most traders will take a position once the price action breaks through the bottom line of the triangle with increased volume, which is when the price should decline an amount equivalent to the widest section of the triangle.

Trend: Short-term trend is Up, Medium-term trend is Strong Down, Long-term trend is Strong Down.

Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).

Support and Resistance: Nearest Support Zone is $45.00, then $40.00. Nearest Resistance Zone is $50.00, then $55.00.