Neo Bear Flag Formation
Updated
Neo forming in a bear flag formation. Massive selloff happened because of news and we had above average volume, a big break away from the resistance line, MACD double touched the 0 line. Watch for a signal if RSI breaks trendline.
Note
Update: This is a bearish pennant formation rather than a bearish flag formation. Sellers are expected to meet buyers at the marked down sloping resistance trendline. Should we break through the resistance line, a breakout may be in store as we have touched the resistance line several times. Watch Carefully!
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