NEO has made a run of about +650% since mid-December and seems to have completed 3 waves. After reaching the previous ATH (around 0.0139) it bounce from this resistance and has been correcting since, which has formed wave 4. Ath this point price has reached the lower trendline and the Stoch is now in oversold territory. The RSI has cooled of and has found support at the trendline itself. These indicators plus the trendline support indicate that NEO could find its way back up in the coming days to complete the cycle and start wave 5. However, the retracement from the ATH is quite minor, so this is a trade that I will only enter after I have seen both price and RSI bounce from the trendline and a Stoch RSI that is going up.
Kommentar:
1) Price bounced from trendline
2) RSI bounced from trendline
3) Stoch RSI is oversold and is turning upwards