NEOUSD - 1D Chart Analysis
After 24 days of bullish trend, not only that the price of NEO has crossed back the 20 days Moving Average but this trend change has been also confirmed by the red candlestick which was created on the 11th of January.
Since then, the price had 2 attempts of crossing the same level again but because of the low trading volumes both attempts were failed.
On top of this, the RSI is still on the "neutral" area and as long as the MACD is still below the Signal, we have all the reasons to believe that the following days will not be favorable for NEO.
The only indicator which is showing the opposite direction is the Stochastic as long as it's "fast" line has crossed the "slow" one but given the circumstances it would rather show a sideways movement rather than a clear direction.
If the trading volumes will remain at the same level, we can consider a target price close to 7$ for the following days.
Since then, the price had 2 attempts of crossing the same level again but because of the low trading volumes both attempts were failed.
On top of this, the RSI is still on the "neutral" area and as long as the MACD is still below the Signal, we have all the reasons to believe that the following days will not be favorable for NEO.
The only indicator which is showing the opposite direction is the Stochastic as long as it's "fast" line has crossed the "slow" one but given the circumstances it would rather show a sideways movement rather than a clear direction.
If the trading volumes will remain at the same level, we can consider a target price close to 7$ for the following days.
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