$NEO continues to push higher, unencumbered by the previous 2.5 month range. The power of this move was fully expected, as I called out many times that the bulls were using that range to accumulate their positions.
This is why I prefer to call it accumulation and not consolidation as it is an active period for the big money traders.
There is now a double top so we need to watch the price action as there may be a pullback if this leg of the rally is over.
If you like this post, please click the Like button, tell your friends, and re-Tweet!
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
This is why I prefer to call it accumulation and not consolidation as it is an active period for the big money traders.
There is now a double top so we need to watch the price action as there may be a pullback if this leg of the rally is over.
If you like this post, please click the Like button, tell your friends, and re-Tweet!
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
