NEO Price Analysis
NEO has recently had lots of buying pressure sold off and has formed a nice falling wedge.
There is a small bull cross on the stochastic RSI and a double bottom that is taking place on the RVI.
This leads me to believe we'll see some short term buying happen quite soon.
However, I do not think there will be room for much upwards price action due to the Kijun and Tenkan acting as resistance, the Kumo is still bearish heavy resistance, and the ADX is bearish as well.
In conclusion I think the price could move upwards to the top of the wedge and bounce off the .382 (short term) Fibonacci level.
There is a small bull cross on the stochastic RSI and a double bottom that is taking place on the RVI.
This leads me to believe we'll see some short term buying happen quite soon.
However, I do not think there will be room for much upwards price action due to the Kijun and Tenkan acting as resistance, the Kumo is still bearish heavy resistance, and the ADX is bearish as well.
In conclusion I think the price could move upwards to the top of the wedge and bounce off the .382 (short term) Fibonacci level.
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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.
Join The Spekre ACS Creator Pool and gain access to exclusive trading indicators, copy trading, exclusive content, and more tools in the future! Link: hub.accessprotocol.co/creators/J8TpW6cypxheFUYjWn4mxS6ExvBEMxyMiRvrf43Nhnvy
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.