Compass, Inc. Stock Forecast
Big movements in Compass, Inc. stock price on Thursday moving 11.20% between high and low
(Updated on May 09, 2024)
The Compass, Inc. stock price gained 23.78% on the last trading day (Thursday, 9th May 2024), rising from $3.28 to $4.06. During the last trading day the stock fluctuated 11.20% from a day low at $3.66 to a day high of $4.07. The price has been going up and down for this period, and there has been a 26.09% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $39.61 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3.77, a level that may pose a second chance to hit a runner. According to fan-theory $4.83 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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COMP Signals & Forecast
Mostly positive signals in the chart today. The Compass, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $3.39 and $3.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 30.13%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Compass, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.74 and $3.33. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Compass, Inc. finds support just below today's level at $3.74. If this is broken, then the next support from accumulated volume will be at $3.33 and $3.28.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.410 between high and low, or 11.20%. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: $3.92 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (COMP) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Compass, Inc. to open at $3.93, and during the day (based on 14 day Average True Range), to move between $3.82 and $4.30, which gives a possible trading interval of +/-$0.244 (+/-6.01%) up or down from last closing price. If Compass, Inc. takes out the full calculated possible swing range there will be an estimated 12.03% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.74, some $0.320 (7.88%) from the current price of $4.06, our system finds the risk reward attractive.
Earnings coming up
Compass, Inc. will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.200. We will update the financials statements for Compass, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.62% in the first trading day after earnings release.
Is Compass, Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.237 Buy Candidate Upgraded
Predicted Opening Price for Compass, Inc. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $3.93 ( 3.20%) | $4.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COMP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.34 | 6.90 % | |
| R2 | 4.18 | 3.04 % | ||
| R1 | 4.09 | 0.656 % | ||
| Current price: | 4.06 | |||
| Support | S1 | 3.77 | -7.06 % | |
| S2 | 3.68 | -9.44 % | ||
| S3 | 3.52 | -13.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.06 | |||
| Support | S1 | 3.74 | -7.88% | |
| S2 | 3.33 | -17.98% | ||
| S3 | 3.28 | -19.21% |
FAQ
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