NEO Struggles to Clear Resistance
NEO finds it difficult to clear the 20-day EMA. Also, it bounced back from the 23.6 Fibonacci level at $12.35 for several times. RSI is in the middle, testing the resistance line.
The only support left is the uptrend line, which price tested numerous time before. It is a very important support for the bulls. If it is broken, it will trigger many stop losses by the bulls to cover their positions, which could drag NEO to $8.50 level.
Traders should keep NEO above the uptrend line and then push the price above the 20-day EMA to resume the uptrend.
Traders should watch out the uptrend line more carefully in the few coming days. They can open fresh positions on a breakout of the 20-day EMA.
The only support left is the uptrend line, which price tested numerous time before. It is a very important support for the bulls. If it is broken, it will trigger many stop losses by the bulls to cover their positions, which could drag NEO to $8.50 level.
Traders should keep NEO above the uptrend line and then push the price above the 20-day EMA to resume the uptrend.
Traders should watch out the uptrend line more carefully in the few coming days. They can open fresh positions on a breakout of the 20-day EMA.
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