Neo Edges Down

Neo has drifted downwards breaking support from the central moving average of the KRI. Although this is a setback, we still seem poised to rebound, and current levels can be thought of as good entry opportunities. The Kovach Momentum Indicators still suggest that in the very long term, NEO is bullish, but momentum has dropped off in the short term, supporting the case that current levels are great entry opportunities. Currently, we are sitting at what appears to be support from previous congestion zones at $118. If that breaks, there is a vacuum zone to $115. Next, we have a Fibonacci level at $110, and finally from the psychologically significant $100. From above, we have to contend with technical levels at $124, $126, $131, $134, and $138, before we can think about levels in the $140's.

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