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CMPS trade ideas

Psychedelic bulls offer sector some hopeYesterday I walked through the chart of each sector peer showing the shifting momentum and indicating what clues we would look for to say that deeper weekly consolidation is underway, or that consolidation is remaining healthy and perhaps finishing. ATAI started the day by confirming a daily downtrend, but CMPS comment at their investors conference that "We've spoken to the FDA" inspired the bulls to start buying and really saved the sector from some deeper weekly consolidation, at least for the time being. In this video I walk through the levels I'm watching to determine if this is merely a one-day pop before the sector resumes it's consolidation, or if we can anticipate consolidation to be finished and start looking forward to higher prices again in the near term future.
NASDAQ:CMPSLong
by McGuireTO
CMPS holds key weekly support - can bulls finally break out?CMPS confirmed an inverse head and shoulders pattern to change the hourly uptrend after holding key 3.92 weekly support just barely yesterday. We have not seen daily lower highs broke but we will be watching for this to happen tomorrow. Houlry uptrend will be our guide in determining when this push higher has topped out. I publish regular technical analysis of the psychedelic sector. Be sure to like and follow to not miss an important update!
NASDAQ:CMPSLong
by McGuireTO
CMPS healthy sideways consolidation Daily timeframe is just fine but I'm watching closely for clues as the weekly chart may be getting a little toppy just below our key resistances around 5.22. In the short tern, nothing changes as long as we are trading in Monday's range, we need to see a break of the high or the low of that candle in order to give us clues on direction and whether or not we can avoid further weekly consolidation and see the bounce continue. I publish regular technical analysis of the shrooms sector, be sure to like and follow so you don't miss future updates!
NASDAQ:CMPSLong
by McGuireTO
CMPS Bulls Keeping Control of 4hr UptrendThe 4hr uptrend is our guide on CMPS as it sets a series of higher lows riding EMAs as support. Eventually we will lose the 4hr uptrend, signalling that daily consolidation is underway. Having bounced 70% from the fear dump low, we are anticipating a daily higher low above 2.25 and the size of that pullback will let us know the likelihood of continuation vs a need to chop around in equilibrium while the market finds a new balance. 4hr RSI just touched 70 today for the first time since the dump.
NASDAQ:CMPS
by McGuireTO
Safe Entry Zone CMPSStock Recovering from steep drop from bad news (which we don't care). Blue Zone is Sell Zone. Green Zone is Buy Zone. since stock already rallied. its Risky to follow we wait price to re-test Green Zone. Also My Beloved CAthie Wood BEST INVESTOR All Time (based on statics better than Warren Buffet Entire Histroy) Is BUYING! Note: 1- Potentional of Strong Buying Zone: We have two scenarios must happen at The Mentioned Zone: Scenarios One: strong buying volume with reversal Candle. Scenarios Two: Fake Break-Out of The Buying Zone. Both indicate buyers stepping in strongly. NEVER Join in unless one showed up. 2- How to Buy Stock: On 1H TF when Marubozu/Doji Candle show up which indicate strong buyers stepping-in. Buy on 0.5 Fibo Level of the Marubozu/Doji Candle, because price will always and always re-test the
NASDAQ:CMPS
by Faisalzor
Follow Your Compass $CMPSThe next hype narrative after crypto has its bull run and seems “tapped out” will be psychedelics having a clinical use case and the runway for approval lines up perfectly. Compass has established itself as the best positioned player in the game and the shares have never been more reasonable. I am a continued buyer on anything 6 or below just because this is a long term play and cash could always be needed so I’m not seeing the true recovery take place for maybe another year or so but will definitely take it if it were to happen sooner. Long term price targets could be previous ATH and even higher if it gains the right momentum and gets the necessary approval with great evidence. Long term hold for me. Will continue to update and add if price goes lower, I think the bottom will be between 4-6 but we would be lucky to see 4’s. Other players I am dabbling into are NASDAQ:ATAI (owns roughly 20% of Compass) and $CYBN.
NASDAQ:CMPSLong
by BlockChaiinz
1
Compass Pathways Wave Analysis: Huge Moves aheadCompass Pathways appears to have completed an impulsive 5-wave move to the upside, signaling significant strength in its recent price action. The peak of this move, reaching $12.75, is notably identified as the B wave within an extended flat correction, potentially forming part of a larger 5-wave pattern. In anticipation of a corrective phase, I anticipate a retracement towards the 0.618 - 0.65 Fibonacci ratio. This level coincides with a point of demand established in May 2022, which has historically served as a robust support level. Therefore, I am targeting a correction to the range of $6.86-7.06, presenting a compelling buying opportunity. This represents a potential decrease of approximately 30.7% to 29.1% from the current price of $9.90. Looking ahead, my projections for subsequent waves are as follows: Low: $21.07 (+112.8%) Medium: $29.68 (+199.8%) High: $41.80 (+322.2%) Moonshot: $120 (+1,111.1%) It's essential to note that the realization of these targets will be contingent upon the outcome of Compass Pathways' significant psilocybin phase 3 trial, slated for release by year-end. Regardless of the trial's results, I anticipate a substantial increase in price leading up to the release date, driven by market anticipation and sentiment. In summary, while Compass Pathways demonstrates considerable strength in its recent price movements, caution is advised as the stock may undergo a corrective phase towards identified support levels before potentially resuming its upward trajectory, influenced by the impending trial results.
NASDAQ:CMPSLong
by joshuashepherd877
CMPS is starting to raise its head, pay attention!!The stock has positive momentum, breaking out a long shuffle Caution is required... According to the SEC, there have recently been sales by insiders. Oscillators in positive territory $12.3 critical level (Note that the volume supports the resistance breakout) You will find target price (first) in the attached picture Full disclosure I am in a position from about $10 Not a recommendation of course... Don't forget an important rule... the only way to trade the stock market... look at my signature below Otherwise it won't work... Keep in mind that I always update my analysis and stop losses but don't always post it NASDAQ:CMPS
NASDAQ:CMPSLong
by maor_yeh
7