COMPUSD hit my buy targets, but the support line morphed to shakeout weak hands. I think we will retest $275 resistance. If the support line breaks, I'd sell and rebuy at the next support level in the 140s. Let's see what happens.
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Mmm... Didn't go my way... but I'm not sweating yet. I should have accumulated more when it touched near $160, and I will certainly double down if it gets into the 140s.
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An upward breakout of uptrend resistance is *much* more rare and meaningful than an upward breakout of downtrend resistance. This local drop from $230 down to $210 has a higher probability of being a shakeout than the start of a new downtrend, but it's technically possible to sink deeper. Either way is okay with me, but statistics favor longs right now. If it holds above $210 (even if it twiddles around a couple of dollars lower, that's fine), then we could see another bullish wave to $250 in the very near future.