Compass Minerals (CMP) is a global provider of essential minerals, including salt, sulfate of potash and magnesium chloride. Let's check the charts ahead of their earnings report after the close of trading Tuesday.
In this daily bar chart of CMP, below, I can see that prices made a low in June and then a recovery rally into early 2023. CMP trades above the rising 50-day moving average line and above the still declining 200-day moving average line. The trading volume doesn't show expanding volume since the price low, but the On-Balance-Volume (OBV) line shows us a rise into January and a slight turn lower. The trend-following Moving Average Convergence Divergence (MACD) oscillator is above the zero-line, but not in a strongly rising trend.
In this weekly Japanese candlestick chart of CMP, below, I see a mixed picture. Prices have rallied above the 40-week moving average line, but its slope is still negative. The OBV line has moved lower for much of the past year and that is a negative for the price action. The MACD oscillator has recently moved above the zero line for an outright-buy signal.
In this daily Point and Figure chart of CMP, below, I can see that the software is reading the X's and O's as bullish with a potential upside price target in the $63 area.
In this weekly Point and Figure chart of CMP, below, the chart shows a price target of $63.
Bottom line strategy: I have no special knowledge of what CMP will tell shareholders this evening but the charts are promising and a decline into the $45-$40 area should be considered a buying opportunity. Risk to $39.
