Hi dear patrons, hope you are well and welcome to the new update on NEO coin.
On the weekly time frame chart, NEO has formed a bullish harmonic bullish Shark pattern. The 1.13 Fib level is in the negative territory, therefore it is not possible for the priceline to move there, however, there is strong support at $12.50. Therefore we can set the buying zone accordingly as below. There is also 100 simple moving average support in the buying zone.
Buying and sell targets:
Buy between: $26.08 to $12.50
Sell between: $51.64 to $110.057
Stop loss:
The buying area is too wide therefore I would recommend using weekly 100 SMA as a stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility up to 780% but if you consider the buying zone max upto 100 SMA then profit possibility can be upto 390%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
On the weekly time frame chart, NEO has formed a bullish harmonic bullish Shark pattern. The 1.13 Fib level is in the negative territory, therefore it is not possible for the priceline to move there, however, there is strong support at $12.50. Therefore we can set the buying zone accordingly as below. There is also 100 simple moving average support in the buying zone.
Buying and sell targets:
Buy between: $26.08 to $12.50
Sell between: $51.64 to $110.057
Stop loss:
The buying area is too wide therefore I would recommend using weekly 100 SMA as a stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility up to 780% but if you consider the buying zone max upto 100 SMA then profit possibility can be upto 390%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade