Neo Poised for Breakout

Neo has been more stubborn than other coins. While others have retraced significantly, Neo has maintained its range in the $70 handle. In fact, we do see some consolidation into a bull flag pattern, so a bull breakout is not out of the question. The Kovach Momentum indicators are still bullish, which supports this case as it suggests that Neo is coiling up. The $70 Fibonacci Fan level continues to provide support. Consider entry here before another breakout, but be prepared to hold into the $50 handle, where we have ample support for more retracement.

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