Hello Traders,
Neo is currently correcting it's recent upswing and right now could be a very good time for a long position on NEO.
While consolidating inside of a bull flag after being rejected on the 1618 extension of the recent downswing, volume has been steadily declining while being high in the flagpole, which is what we want to see in a bull flag.
The 786 retrace acts currently as a support and NEO could go up to test the 2618 extension as the next level.
RSI is making higher lows and highs which indicates strength on this upswing.
Stop Loss is set at the bottom of this downtrend channel
Good Luck Everyone!
Neo is currently correcting it's recent upswing and right now could be a very good time for a long position on NEO.
While consolidating inside of a bull flag after being rejected on the 1618 extension of the recent downswing, volume has been steadily declining while being high in the flagpole, which is what we want to see in a bull flag.
The 786 retrace acts currently as a support and NEO could go up to test the 2618 extension as the next level.
RSI is making higher lows and highs which indicates strength on this upswing.
Stop Loss is set at the bottom of this downtrend channel
Good Luck Everyone!