$NEO.X: Bearish Reversal?
Head and shoulders bearish reversal pattern on the hourly. Be cautious if the NEO/USD exchange rate begins to near the $27 neckline level. If it crosses below this point, more bearish movement may be evident. As of right now, NEO's price is hovering directly above its 50-day SMA, indicating a possible level of support. Along with this, the 100-day SMA seems to be on a strong upward rise catching up to NEO's current rate. The MACD seems to be showing some optimistic signs, as the 12-day EMA successfully crossed over the 9-day EMA at a relatively low point. However, as of today, the upward rise of the 12-day EMA gave off some momentum, and seems to be signaling slight over sold volume. Watch this one closely!
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