Compound Trend May Be Changing as Price Just Breached Below Its 100 Day Moving Average

The Hourly View for Compound

  • At the time of this writing, COMP’s price is up $3.29 (0.8%) from the hour prior.
  • Compound has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them with price now being above it. 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

  • At the time of this writing, COMP’s price is up $34.63 (9%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them so that price is now turning above it. 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.

Below is a daily price chart of Compound.

COMP

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