- The Compound price closed the previous day’s trade at INR 11580.55 with a market capitalization of INR 96.12 Cr and a market capitalization of 6709373.66 COMP
- The price is consolidating well within healthy ranges and hence a quick flip may ignite a 12% to 15% rally soon.
Compound (COMP) Technical – Analysis for the Month
The price is experiencing a huge swing since the beginning of April. With extreme surges and plunges, it displayed its strength amid any condition. And hence with a little stability, the price may quickly reach INR 12,000. Maintaining the same pace, it may also achieve INR 15,000 by the end of April. But if the bears jump in, the price may be restricted below INR 12,000.
Compound (COMP) Technical Analysis at a Glance
The COMP price appears to have done with the exhaustion that it entered since the beginning of April. And hence after accumulating enough strength, the price may be primed to undergo a strong upswing. However, unless the price seals the levels above INR 12,500 it may continue consolidating.
|Short-Term||The decrease in volume and volatility has compelled the price to swing within the same range|
|Mid-Term||The price is facing a hindrance that is preventing it to go high, therefore, it may consolidate for a while before the next leg|
|Long-Term||After a brief sell-off, the price is expected to take off as the buyers may enter the ring any time from now|
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||44.04 / 52.64||Sell / Neutral|
|MACD(12,26)||-0.85 / 3.89||Sell / Buy|
|Average Directional Index(ADX)||28.10 / 23.67||Sell / Buy|
|Bull-Bear Power||-1.78 / 11.70||Sell / Buy|
|Moving Average(MA)-50||INR 11055.87||INR 9519.31|
|Moving Average(MA)-200||INR 10426.90||INR 15774.69|
|Resistance||INR 15,800||INR 22,520|
|Support||INR 9306||INR 7615|
|Average True Range(ATR)||1.79||14.20|
The COMP price is extremely bullish in STF while pretty much bullish in HTF. This signifies that the price may undertake an interim upswing towards immediate resistance and eventually face a huge rejection. However, the strength of the rally is notably high in both the time frames, and hence with decent volatility, the price may not fall into the bearish well.
COMP/INR Technical-Analysis for Short-Term
- COMP price in the STF appears somewhat bullish and in an attempt to reach the immediate resistance at the earliest
- The price is swinging within an ascending triangle, heading towards the resistance of the triangle.
- If the price fails to slice through the resistance with the current upswing, then a plunge may drag the price again towards the lower support and undergo a quick rebound
- However, the price after a rebound has to slice through the pivotal resistance at INR 15,000 to secure a strong uptrend ahead
COMP/INR Technical Analysis for Long-Term
- The Compound’s extended descending trend was recently challenged by the bulls well, who were able to hold the price within a consolidated region
- A couple of attempts to break through the consolidation were nullified but the asset still maintains a significant bullish momentum which may be fueled very soon
- However, after the recent rejection, the price has now formed a double-top pattern and if the price reaches the neckline, the pattern may result in a significant descending trend ahead
- Yet the lower strong support levels may hold the price tight in case of a decline and assist a flip over
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