NEO Looking Good in the Short-Term

23 Feb 2019

Flat-top formation on NEO on the daily resolution. That’s almost always bullish as bullish gets. This is formally known as an ‘ascending triangle’.

Super long-term downtrend resistance spanning back to April 28th, 2018 got broken:



Relative Strength Index



RSI(7) can definitely grow from where we are currently. Looking bullish.

Exponential Moving Averages



Price > EMA-12, EMA-26, EMA-50, EMA-100, but not EMA-200 (overhead as resistance).

EMA-50 = .2134 ; That’s a support point.

EMA-12 > EMA-26 > EMA-50 = Bullish ; positive. EMA-100



Let’s zoom in to the H12 resolution:



The Zerononcense Reversion Ribbon V2 is showing some serious convergence on the H12 resolution.

The crossover to indicating positive price action appears imminent.

Other Momentum Indicators (H8 Resolution)



Momentum indicators on the H8 resolution look positive for NEO.

Conclusion

'NEO (in the short-term) is looking very positive. Let’s see where it goes from here.

Important thing to note here is that the ascending triangle (flat-top formation) is strong for NEO. It spans back several weeks (going back to 2018) on the daily resolution. Usually patterns like this can result in explosive growth.

23 Feb 2019

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Target hit!