Neo Tests Support

Neo has retraced further to find support at the central moving average of the KRI at $122. This also is a technical level of support at a previous congestion zone. Although this is a setback, we still seem poised to rebound, and current levels can be thought of as good entry opportunities. The Kovach Momentum Indicators have wavered suggesting Neo doesn't have much in the tank. Currently, we are sitting at strong support at $121, but if it breaks, then there is a vacuum zone to $115. Next, we have a Fibonacci level at $110, and finally from the psychologically significant $100. From above, we have to contend with technical levels at $126, $131, $134, and $138, before we can think about levels in the $140's.


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