I love marketing and NEO' did just that, but wait, they didn't have a product and this has led to many issues within the NEO' community and moreover it's venture capitalists. This is not how a company should act by releasing news of an upcoming "BIG ANNOUNCEMENT" only to find out it's a release of their white paper. In regular markets you would be going to jail!
But these are not regular markets, so they got away with it. But I am long term, and young leaders make mistakes. This is their pass, and I think a lock down from the powers that invested early (venture capitalists) has kept NEO' away from making more silly mistakes. But NEO' none the less is moving along.
What caught my eye recently was their "big development competition" co-hosted with Microsoft'. Now let me be clear to many new investors. Partnership does not mean investing! I hear all the time IBM' partnered with yada yada yada. Partnering and investing are two different things and you should understand the difference. From a Microsoft' stance I want to get my name out there as many times as possible for clearly marketing purposes, to show to my shareholders that we are getting involved in this new technology, so be cautious on buying the news of these partnerships. There is a clear difference in "partnership" and "investing"!
But NEO' has almost a lock down on the Chinese market and one of the largest trading partners in the world. They can flex their mussel and will want those doing business in China to use their products. Yes they can not control the likes of cryptos but they can control the businesses that use them. So NEO' has an advantage at is the "home team". As an investor I missed out on investing in China in the stock market, but I'm not missing it here.
So we have broken out of the resistance line and I have a long target level of $125 from here. Now this is long term and once they do have a working product and developers start writing apps this could quickly be the next $300 coin. Short term I think we see some profit taking around $55 area and a quick retest of the $45 level which is where I will want to add and trade. Again you must monitor and read the charts as we go and I am already invested HEAVILY in this coin and have added in the $27-$30 range, so my situation may be different. Trading right now, everyone is a genius!