$COMP breached the 24-hour low: current price 24.44, previous low 24.55.
After the breakdown, watch two things:
Will the previous low of 24.55 turn from support into resistance (will the rebound fail to get above it)?
Was there a surge in volume during the break? A low-volume break could just be a bear trap.
What will you do if it reverses later?
#COMP
Just take it as something to listen to—don’t follow it blindly. Make your own decisions.
After the breakdown, watch two things:
Will the previous low of 24.55 turn from support into resistance (will the rebound fail to get above it)?
Was there a surge in volume during the break? A low-volume break could just be a bear trap.
What will you do if it reverses later?
#COMP
Just take it as something to listen to—don’t follow it blindly. Make your own decisions.