We are seeing a possible trend change in NEO as we have some divergence shown here in the AC oscillator which is close to the zero line and the BB% also showing positive rather than the trend shown on the candles. We see a positive green candle forming which is another symbol of a sign of a trend change. We are at the top of the current channel which has to be broken to confirm this change then I want to see a break across the 20 period moving average and the AC oscillate stay above the zero line. If we continue on the current trend and don't see a reversal this could happen in the next few days. If the channel isnt broken and we regress, the next line of support for a possible bounce comes at 675497 SATS.
Trade active:
NEO has broken the channel nicely and is above the 20 period moving average. The on balance volume is slightly up but the BB% shows we are heading in the right direction. AC oscillator is in the positive which helps confirm the trend is getting stronger. I entered here around 0.00744449 sats though still set my stop loss around 0.00696807 in case this reverses. Its a small trade but the beginning of building a NEO stack if the positive trend continues.
NEO has broken the channel nicely and is above the 20 period moving average. The on balance volume is slightly up but the BB% shows we are heading in the right direction. AC oscillator is in the positive which helps confirm the trend is getting stronger. I entered here around 0.00744449 sats though still set my stop loss around 0.00696807 in case this reverses. Its a small trade but the beginning of building a NEO stack if the positive trend continues.
NEO has broken the channel as well as a few other coins im watching but the trend is very weak. Volume is increasing but only very slightly here. we do get above the 20 period moving average i may look to buy in as long as the volume is there to back it up. Were not far so I will keep a close eye, though if we hit resistance at the 20 period mark then an entry is not good.