Day Chart Update
Indecision candle forming and that sell wall is big. NEO still waiting on upside confirmation. We'll watch 4hr to see if we some good news coming.
4hr chart showing new bear candle forming. We'll wait to see how that plays out. Right now RESISTANCE IS STRONG IN THIS ONE!
Above is daily from today. You can see a large bearish candle (engulfing I believe) forming today. We are getting down to test support on the .0118. .0118 lines up spot on with the up trendline and monthly/weekly support which may prove to be a bit tougher to get past if price is trying to go below. We'll need to see what today closes as. If it breaks below I'll be watching for confirmation and potential entry points.
Current 4hr chart.
We closed below trendline on the 1 prior candle but were unable to break support. The 200MA played support as well just below support on .0118. We have a bullish candle but finished w/ some selling pressure, notice the long wick. A new 4hr is starting bearish but time will only tell. Based on th order books there is plenty of buying power at support to prevent downside. We are going back up off the trendline.
I believe in NEO and would enter anywhere long these levels. Dollar cost average into a long position is what I've been doing.
how about we just say we need to see where the next 4hr closes to determine direction. above trend is favorable.