CMP Compass Minerals
You wouldn’t think there’d be that much money in selling salt, but Compass Minerals is making a go of it. (Demand for their potash helps too.)
CMP cleared a double bottom base (with a handle) at Point A on heavy volume Point B. Note along the ellipses how it glides along 9 and 21 day moving averages, which I think are good signs of buying support. It now appears to be carving a cup with handle base, with a possible buy point at Point C, ten cents above its high in the handle.
Note that we’re in a market correction now, during which prudence dictates great caution in committing capital, no matter how beautiful that chart.
