COMP Price Teases Trinagle Break!

COMP currently showcases a triangle pattern in its daily chart, indicating a potential for volatility change.
The price action within the triangle suggests an upcoming bullish cycle, possibly leading to a breakout.
A successful breakout from this pattern could propel COMP's price to approximately $75.
Despite market fluctuations, COMP’s price movement has been forming this symmetrical triangle for over six months.
This pattern suggests a compression phase with limited volatility between two boundary trendlines.
COMP's recent trend reversal from the support trendline is now testing the upper resistance trendline, hinting at a bullish shift.
The formation of a morning star pattern at the 38.20% Fibonacci level further bolsters the likelihood of a bullish run.
COMP is trading at $58.55, with a 2.07% increase, showing bullish momentum in the latest trading cycle.
The daily RSI is on an upward trajectory, nearing the 80% mark, signifying strong bullish momentum.
The 50D and 200D EMAs are providing dynamic support and exhibit a positive trend post the golden crossover.
If COMP breaks out successfully, it could retest its previous high around $77 and potentially surge towards $100.
Conversely, if it faces resistance at the current trendline, the price might drop towards the $50 level.


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