Flat-top formation on
NEO on the daily resolution. That’s almost always bullish as bullish gets. This is formally known as an ‘ascending triangle’.Super long-term downtrend resistance spanning back to April 28th, 2018 got broken:
Relative Strength Index
RSI(7) can definitely grow from where we are currently. Looking bullish.
Exponential Moving Averages
Price > EMA-12, EMA-26, EMA-50, EMA-100, but not EMA-200 (overhead as resistance).
EMA-50 = .2134 ; That’s a support point.
EMA-12 > EMA-26 > EMA-50 = Bullish ; positive. EMA-100
Let’s zoom in to the H12 resolution:
The Zerononcense Reversion Ribbon V2 is showing some serious convergence on the H12 resolution.
The crossover to indicating positive price action appears imminent.
Other Momentum Indicators (H8 Resolution)
Momentum indicators on the H8 resolution look positive for $NEO.
Conclusion
'
NEO (in the short-term) is looking very positive. Let’s see where it goes from here.Important thing to note here is that the ascending triangle (flat-top formation) is strong for $NEO. It spans back several weeks (going back to 2018) on the daily resolution. Usually patterns like this can result in explosive growth.
Trade closed manually
Target hit!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.