The Silver Lining with Neo

This is the 9th bear candle in a row for Neo. We can't even seem to get a single green candle as a relief rally. The good news is that Neo seems to be forming a bull crab cypher pattern. If momentum reignites, we can expect a breakout to $130's or so. Today's candle seems to be forming a doji, which suggests some ambivalence at lower prices. The Kovach Momentum Indicators have dropped to reflect the weakness, but the OBV is somewhat bullish, which is encouraging. Neo was not immune to the news yesterday, and it fell to support at $95 and $92. These are exactly the levels explicitly identified here for quite some time. Currently, we are hanging on for dear life at $100, which seems to be a very significant level. Beyond that $95 and $92 should be expected to continue to provide support. Resistance will be met again at $102. After that, the first major level from above is $110, which is an important psychological and technical level. It corresponds to a Fibonacci level and a Fibonacci Fan level. Next, we have $115, $118, $124, $126, $131, $134, and $138. If we are able to make it this far, we can think about levels in the $140's.

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