NEO is bouncing from a November 2017 low. Strong green candles on the daily chart.
We have quite a few signals to look at here, but the interesting one is the broken downtrend line (red).
The breakout will be confirmed when today's candle closes.
- Bounce from oversold RSI, which is a strong signal. These coins don't like oversold, as soon as they get there they like to move back up.
- The bullish divegence on the MACD started back in March, that's a very strong buy signal in general for the long term.
- The STOCH is super bullish and the RSI is showing plenty of room available for growth.
This can be a good buy, maybe I can trade this coin.
Note: This is an educational post.
You can spot some other bullish signals that are developing by looking at the 4h, 8h and 12h time frames. Also the weekly chart can give us lots of good information.
Use this information to your advantage, but know that you are responsible for your actions, for your trades, no matter who it is that you read.
Thanks again for taking the time to be with me.
I am happy for being alive... I am always grateful no matter what happens in the world I live...
Namaste.
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NEO is breaking resistance on the 4h time frame.
- If this last candle closes above $42, this is a good strong signal which can lead to further growth.