Well Hello There…
Here is the Technical Analysis for NEO (NEO)
Summary :
- NEO is forming a “Bowl Formation” (Between 0.014 - 0.010)
- If 0.014 is passed upwards the price may target 0.018
- Stop Loss is 0.010 (The bottom of the Bowl Formation)
- If 0.014 is passed upwards sun will rise…Long Term target (big bowl formation target) will be 0.026. If 0.010 is passed downwards the above scenario will be aborted.
Detailed Overview:
- NEO is moving in an “upward” trend, the price is both above the short term Moving Average (EMA-20) and long term Moving Average (EMA-50) Short Term Moving average is around 0.010 and long term moving average is around 0.008
NEO is forming two “bowl formations”. Big bowl formation (yellow) is between 0.014 - 0.002. The height of the Big bowl is shown with “h” (0.014 - 0.002 =0.012) Small bowl formation(pink) is between 0.014 - 0.010. I showed the height of small with “s” (0.014 - 0.010 =0.004)
0.014 is the critical level. Once the price pass 0.014 upwards, first It will aim (minimum) the height of the small bowl. (0.014 + 0.004(s) = 0.018) will be the first target. Then If the price pass 0.018 level It will target the height of the “big bowl” formation which is 0.026 (0.014 + 0.012(h) =0.026)
- Stop Loss is 0.010 (Small Bowl support line & Short term moving average)
Trend is your best friend :) As long as the price stays above the moving average It represents an “Upward” Trend. As long as the price stays below the moving averages It represents an “Downward” Trend.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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