Neo has broken below the uptrend line and the previous 2 weekly closing for Neo has been below the support confluence region around 48-50.
If neo doesn't manage to break above the 48-50 region then a fall to below 30 levels is likely.
Neo accumulation zone : below 30
Selling Targets as per the resistance levels mentioned.
Stop below 20
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Neo went on to test sub 30 levels as expected along with a strong rejection from the support level 30. However currently NEO is facing resistance 31.5-32 region from 10 &20 4H sma's
Increased volatility as rsi went below 30
Still bulls are not feeling comfortable buying neo at below 32$ price as indicated by the low volume-weak 1D candle, that succeeded the bullish rejection candle yesterday.
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I m looking at this #Neo Falling wedge. Progressing well so far NEOUSD
Daily rsi at 26 with divergence.
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#NEO upside follow through after hammer candle around 88.6fib lvl in 12H
RSI back above 30 level from oversold region
Facing resistance at the 9ema in 1D and above that the wedge trend line
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Sleeping giant neo is up 15% today,
Trading above 9ema in 1D looking to break out of the falling wedge,
If confirmed then it'll look to target 50dma and resistance confluence zone near 47-50 as per the analysis 12days ago.
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Neo after posting +77% return the last time it went below 30$ range is again back at the same levels.
However this time around NEO has broken below the bearish descending triangle pattern and looking to test deeper sub 30 levels before a retrace can be expected.
I would like to see a bullish reversal candle in 4H or better higher t-fs along with bullish follow through before adding to my neo bags this time around.
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#NEO not looking good, trading below its june lows atm. Told you guys day before yesterday, its not looking to reverse easily this time arnd & will look to test deeper sub 30 levels. Looking for bullish break 9ema in 4H after a reversal candle before i reconsider this.