Compound is Down for the 2nd Day in a Row

The Hourly View for Compound

  • Currently, COMP’s price is up $0.8 (0.23%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Compound’s hourly price chart is shown below.

COMP

The Daily View for Compound

  • Currently, COMP’s price is down $-45.25 (-11.51%) from the day prior.
  • Compound has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between COMP’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in COMP’s price.

Below is a daily price chart of Compound.

COMP

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