NEO swing Buy and sell target Levels

NEOUSD

NEOUSD may have a little upside left to test 50 DMA. But it has already failed 50 DMA twice. Hence neo becomes weak and set to have a huge correction wave downwards. Break below 30 means we are heading towards 14 to 17 zone. Don't expect the level 27 to hold. It is too weak to hold now. The falling channel floor hints accumulation zone to be 15 to 20 dollars.

First target is 43 which is the 0.786 retracement of the neo rally from $0.078 to $200.

Break above would yield 82 dollars. Happy trading :)

Trade active:

Even though falling channel floor has been broken down, this zone has strong support and 1.618 extension of the rally from 27 to 49. Started accumulating.

Comment:

Possible upside target is the falling channel floor (previous support).

Trade closed: target reached:

reached previous falling trendline floor.

Comment:

Monthly chart is bearish. Chances are high for a downside break. Downside break could yield 5 to 7.5 dollars.