NEO (Canada) is engaged in the extraction and production of rare earth metals, etc. Other similar companies are e.g. Lynas (Australia) and MP Materials (USA).
My post is preferably a technical analysis.
Neo has been in a declining trend and is still so as the SMA 50 is below the SMA 100 which is below the SMA 200 but they converge. And there is formed a triple bottom, which is a reversing formation (1,2,3). If we get a significant break above the resistance line at 9.04 there is a buy signal. Conversely, if break down at the support line 7.94.
There has been a poor correlation between price peaks and volume peaks, but since the end of June the volume balance has been positive.
RSI 21 follows price and OBV rising from end June.
The sum of Oscillators and MA stands one day to one week on purchase and one month on sale.
Consider the stock technically neutral in the medium term – one to 6 months.
Fundamental analysts (5) are predominantly positive about the stock and have a price target of CAD 13.
NOTE! Liquidity is slightly low at an average of 62,414 per day.
NOTE! There is a geopolitical risk as part of the business is in China. 32% of turnover comes from China.
Keep in mind that you need to do your own research and assessment before buying and selling.
Disclaimer: I have a position in the stock.
Sources: Trading View, Yahoo Finance.
My post is preferably a technical analysis.
Neo has been in a declining trend and is still so as the SMA 50 is below the SMA 100 which is below the SMA 200 but they converge. And there is formed a triple bottom, which is a reversing formation (1,2,3). If we get a significant break above the resistance line at 9.04 there is a buy signal. Conversely, if break down at the support line 7.94.
There has been a poor correlation between price peaks and volume peaks, but since the end of June the volume balance has been positive.
RSI 21 follows price and OBV rising from end June.
The sum of Oscillators and MA stands one day to one week on purchase and one month on sale.
Consider the stock technically neutral in the medium term – one to 6 months.
Fundamental analysts (5) are predominantly positive about the stock and have a price target of CAD 13.
NOTE! Liquidity is slightly low at an average of 62,414 per day.
NOTE! There is a geopolitical risk as part of the business is in China. 32% of turnover comes from China.
Keep in mind that you need to do your own research and assessment before buying and selling.
Disclaimer: I have a position in the stock.
Sources: Trading View, Yahoo Finance.