NEO - consolidations
This is nearly a 2 year chart of NEO, just looking for some patterns.
We have had 3 condolidation periods (10-20% range).
1st - 77days
2nd - 64days
3rd - is only at 42 days so far, may need longer to play out.
Each consolidation has had a bit of a push at the end.
1st one approx 70% (real world - this push would have shaken out alot with that red candle on the 2nd day!
2nd about 30% (pull backs along the way)
The 55ema also seems important here
resistance for the 1st block, support for the 2nd and now back at resistance.
A good break of the 55ema or box could possibly be a good trade, with the proper risk management.
We have had 3 condolidation periods (10-20% range).
1st - 77days
2nd - 64days
3rd - is only at 42 days so far, may need longer to play out.
Each consolidation has had a bit of a push at the end.
1st one approx 70% (real world - this push would have shaken out alot with that red candle on the 2nd day!
2nd about 30% (pull backs along the way)
The 55ema also seems important here
resistance for the 1st block, support for the 2nd and now back at resistance.
A good break of the 55ema or box could possibly be a good trade, with the proper risk management.
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