NEO comes out of nowhere for its epic run!
This is a very simple observational chart!
Neo is super strong at the moment, which is what I like to see!
A simple resistance/support line drawn in (looking left), it is important where today's daily candle closes. (have used a 3day candle chart to show last run more clearly)
If it closes below the line, I would expect this to become a resistance, consolidation zone for a while.
If we close above, do we retest as support or just rocket through?
Elliot wave, I would say we are on the 3rd wave, so a 4th wave pullback, red candle would not be too unexpected.
Happy Trading
(not saying to buy or sell)
Neo is super strong at the moment, which is what I like to see!
A simple resistance/support line drawn in (looking left), it is important where today's daily candle closes. (have used a 3day candle chart to show last run more clearly)
If it closes below the line, I would expect this to become a resistance, consolidation zone for a while.
If we close above, do we retest as support or just rocket through?
Elliot wave, I would say we are on the 3rd wave, so a 4th wave pullback, red candle would not be too unexpected.
Happy Trading
(not saying to buy or sell)
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