Neo Gearing Up

Neo has advanced, but only slighty from a Fibonacci level at $110, currently seated at about $113 or so. We'll see more resistance from a Fibonacci Fan level at $118. After that, we'll meet resistance from the central moving average of the KRI at about $121. We do anticipate momentum to continue as we eventually will enter the third segment of the impulse of the Elliott Wave. The Kovach OBV indicates that momentum is still bullish in the long term, and the Kovach Chande has receded, but does appear to be turning up indicating that momentum has dried up for now and that Neo is priced competitively, but gearing up for a breakout.

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