* We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases.
NEO broke down the critical support of $93. This level acted as a stiff resistance in the last three days. If it keeps failing to go above this level, NEO will look after support levels to gain momentum. The first support level will be $78 thereafter $63.
On the contrary, if it succeeds to penetrate $93 level, NEO may rally to the moving averages where we anticipate a selling pressure. The 20-day EMA is now at $112, the 50-day SAM is at $118.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.