If you just take a look into twitter community today, you can see enormous amount of people trying to sread a FUD, and you have to ask yourself, what is the reason for that.
I dont know a shit about FA to be honest, but when you look at TA and if you draw some simple lines, we can see that NEO has found solid support in $113-$116 range on the bottom of the channel. RSI is very low on a 4 hour chart, and started to moving up, and 4 hour MACD, is about to cross, which is a very bullish sign. We are still bellow 55 EMA on a 4 hour timeframe, as well as on a 2 hour timeframe, so first obstacle for NEO to go higher is to close a 4 hour candle, and stay above 55 EMA.
Also, very important, daily 55 EMA is right below the price now, and have supported this bounce. Hopefully it will continue to support the price from here.
If the FUD spread as they want, there is a possibility that price can dropout of the channel, and they will buy it cheaper from whoever panic sell there. Just ignore the FUD, because reason of the FUD is simple. They want cheaper NEO!
GL!
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Something else to keep you aware.
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15min RSI support still holding
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Bear flag target $105,45 At the same level is 50% fib retrace from bottom to top.
I'll gladly accept the opposite side of your trade. NEO IS garbage for awhile and I suspect it'll break below your pretty lines. Sudden sentiment shifts like this caused by legit bad news which aren't fully showing up in price (yet) don't usually end well. Just my 2c.
AjnoudaSikret
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There is no opposite side of my trade. I have updated a possible head&shoulders pattern, and I'm well aware of possible drop, so point here is to be aware of both scenarios, and react accordingly to future events.