My opinion, this couldn’t be a much better position for entering a LongTerm NEO position.
The price level is nearly December 2018 lows and looks to be stabilizing a higher low between December 2018 and now, and also another higher low from the last dip from 10 days ago.
There should be a tight stop/loss set around December 2018 lows. We should see a push out of this downward trending channel, a bounce off 55EMA resistance and another supportive bounce on the outside of the trending channel. This will give us more confirmation in bullish reversal.
Oscillators are showing a very oversold sentiment, take a look and tell me what you think about NEO.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
COMPLETED 10:08am (UTC-7) LOS ANGELES
The price level is nearly December 2018 lows and looks to be stabilizing a higher low between December 2018 and now, and also another higher low from the last dip from 10 days ago.
There should be a tight stop/loss set around December 2018 lows. We should see a push out of this downward trending channel, a bounce off 55EMA resistance and another supportive bounce on the outside of the trending channel. This will give us more confirmation in bullish reversal.
Oscillators are showing a very oversold sentiment, take a look and tell me what you think about NEO.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
COMPLETED 10:08am (UTC-7) LOS ANGELES
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I posted this around the 17.50 price level, and 10 days later we are sitting around the 22.50+ price level. This is a 30% increase within 10 days, conservative profits can be taken now as we are facing resistance levels from August 17 price levels. Look for continuation of bullish price action today/tomorrow in order to break thru these resistance levels and head toward the 50% profit margin.
I entered a NEO position at $17.55, very content with my entry.
I entered a NEO position at $17.55, very content with my entry.