The price of NEO hit bottom of the channel twice and broke downtrend line which gives signal of price wanting to move further upwards. MACD supports upward movement. Buy target should be set above former support level at 38.5. If you are going to take this trade, it's important to remember to use stop-loss. Stop-loss should be set at 34 level. If the price does not reach our buy target and moves further downwards, then buy targets should be removed and wait for another buy opportunity.
Trading information: Buy: Above 38.5 Long term target: 48, 55 (top of the channel) Stop-loss: 34
Things to remember:
Always remember to use stop-loss.
Note this is a long term trade! Requires patience and flexibility to adjust the sails of the market movement.
Always be aware of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!
It's better to wait than to regret. This is important when you are doing long term investments! Knowledge behind of your trades gives you success, more often!
Any questions or need help? Feel free to leave comments and feedback! Yarr!