As every analysis for prices in the future this one is also only speculative.
I combined EW-theory with trend analysis and chart patterns.
If NEO follows more or less this direction it could lead us to 97$ - where we find a fib retracement 38.2%. It would be another rally for 23 days - but with higher volatility. At least one V-formation can occure - perhaps we´re already in it.
After having finished this move a correction phase could begin - but that´s not for sure because we would have surpassed the older desending trend line (dotted) and would be in bullish terrain again.
RSI and MACD give positive signs.
Stop:
If NEO falls back on the actual support (red) and breaks it to the bottom - one should be prepared for deeper prices. If it breaks also the second support (swing-trend-line at 65$) this analysis would be definitely false.
A very good sign and a confirmation would be the crossing to the top of the next resistance at 80$ (swing trend line).
I combined EW-theory with trend analysis and chart patterns.
If NEO follows more or less this direction it could lead us to 97$ - where we find a fib retracement 38.2%. It would be another rally for 23 days - but with higher volatility. At least one V-formation can occure - perhaps we´re already in it.
After having finished this move a correction phase could begin - but that´s not for sure because we would have surpassed the older desending trend line (dotted) and would be in bullish terrain again.
RSI and MACD give positive signs.
Stop:
If NEO falls back on the actual support (red) and breaks it to the bottom - one should be prepared for deeper prices. If it breaks also the second support (swing-trend-line at 65$) this analysis would be definitely false.
A very good sign and a confirmation would be the crossing to the top of the next resistance at 80$ (swing trend line).
Trade active:
The same aim but this time with EW-theory.
Trade active:
fight with the long descending trend line
Trade closed: target reached:
We reached the peak of wave 5 earlier than I´ve expected.
We´re probably in wave b of the corrective waves.
We´re probably in wave b of the corrective waves.