Comp is currently in a correction after a massive run. Based on the elliot wave theory, we’re in an ABC correction looking to retest the support zone. It was clear that COMP’s momentum was slowing down after Wave 3 and 5 struggled to break resistance. I expect a bounce after Wave A, but ultimately I see COMP completing Wave C to my labeled target.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.