Long
NEO drops to $58 then bounces to $110 for a 90% Gain
Not much to say here. The chart says it all! We should rebound here along with the market, but with the most recent failed breakout, we get left in the dust. Check out the death cross on the daily EMAs. We're not going anywhere soon. I expect NEO to correct for the next month before making its next major breakout.
SHORT TERM (Next few days):
I believe we continue to drop to the mid $50 range. We should bounce a great length on the B wave due to 3 waves counted down. The Stoch RSI and RSI are both oversold, with great divergences on the MACD. This analysis was very very easy to put together. Everything is straight forward. We eventually retrace to the .728 region before NEO really kicks off to $400.
I think we fail to breakout of this resistance. But we should target near the daily 55 EMA.
I love NEO long-term, its gaining so freaking fast with proportional corrections that are still showing upside. NEO may be a top market cap coin that has the biggest gains of 2018.
Good luck!
SHORT TERM (Next few days):
I believe we continue to drop to the mid $50 range. We should bounce a great length on the B wave due to 3 waves counted down. The Stoch RSI and RSI are both oversold, with great divergences on the MACD. This analysis was very very easy to put together. Everything is straight forward. We eventually retrace to the .728 region before NEO really kicks off to $400.
I think we fail to breakout of this resistance. But we should target near the daily 55 EMA.
I love NEO long-term, its gaining so freaking fast with proportional corrections that are still showing upside. NEO may be a top market cap coin that has the biggest gains of 2018.
Good luck!
Trade active
Sorry, for being $2 off!! LOL. Uptrend is not confirmed yet, but This is still good entry. I will likely not be keeping track of this that much because I did not enter, focused on other coins for now. So let me know if you have questions!
Order cancelled
Note
NEO is seeing some parabolic growth here. Expecting a decline soon. I'd personally only enter a trade once this peak is broken AFTER a retrace. NEO is overbought on high time frames, so its looking sketchy. If the yellow support line breaks, then I would not recommend entering long until support is established around that lower limit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.