NEO HOW to Trade

NEO has broken below the 50-day SMA , the critical support of $93, but it saw a huge buying at $63 level which is 78.6 percent Fibonacci retracement levels of the recent rally from $25 to $200. It bounced back quickly to $123 and gained huge profit.

As shown from the chart, although NEO went above 50-day SMA and $93 level again it stopped by the trendline which acts now as a resistance. We believe that breaking up the trendline
will confirm the bullish view on NEO.

On the other hand, any dips will find support from $93 level thereafter the 100-day SMA .
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