NEO ANALYSIS: LONG THE DOUBLE BOTTOM SUPPORT!
NEO ANALYSIS:
NEO broke thru temporary support and flipped very bearish. The free fall is expected to be coming to an end upon one final dip into the support zone. This support is the ideal entry for a LONG position. Key entry is from 888-997 sats. RSI And Stoch daily looks bottomed, volume showing sellers exhaustion. An expected rally up to 200MA is bound. Look for a long bounce up to T1 at 1094 and T2 at 1164 sats. This will be a key spot at the 200MA. A rejection means further downside incoming and a triple bottom. A break above T2 is bullish longer term. Move stop loss up in this situation and see how the reaction comes at T2.
Possible Entries: 888-997 sats
NEO broke thru temporary support and flipped very bearish. The free fall is expected to be coming to an end upon one final dip into the support zone. This support is the ideal entry for a LONG position. Key entry is from 888-997 sats. RSI And Stoch daily looks bottomed, volume showing sellers exhaustion. An expected rally up to 200MA is bound. Look for a long bounce up to T1 at 1094 and T2 at 1164 sats. This will be a key spot at the 200MA. A rejection means further downside incoming and a triple bottom. A break above T2 is bullish longer term. Move stop loss up in this situation and see how the reaction comes at T2.
Possible Entries: 888-997 sats
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