Elliott Wave Analysis TradingLounge Daily Chart, 24 May 23,
NEO /U.S.dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction Next higher Degrees: Wave II of Motive
Details: Wave reversal II has a probability of .786 x length Wave I
Wave Cancel invalid Level: 5.96
NEO /U.S.dollar(NEOUSD) Trading Strategy: It is possible that wave ((2)) may end at the level of 8.69. A five-wave rise and a breakout of the 28338.31 level will support this idea. But even so, the price is still in a downtrend as it holds below the MA200, trading is still cautious.
NEO /U.S.dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bullish momentum.
TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source : Tradinglounge.com get trial here!
Elliott Wave Analysis TradingLounge 4H Chart, 24 May 23,
NEO /U.S.dollar(NEOUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Follow Trend
Structure: Motive
Position: Wave 4
Direction Next higher Degrees: Wave (1) of Motive
Details: Correction in wave 4, when finished, price will rise again in wave 5.
Wave Cancel invalid Level: 9.56
NEO /U.S.dollar(NEOUSD) Trading Strategy: Correction in wave 4, when finished, the price will rise again in wave 5. But the price must not enter the territory of wave 1. Overall, it is still the first phase of an uptrend. which may be corrected again.
NEO /U.S.dollar(NEOUSD) Technical Indicators: The price is above the MA200 indicating an uptrend MACD and RSI are bullish momentum.
Comments
NEO is a rare winner in this market. In five years this could be lots and lots higher, Company continues to grow top line and stock acts like a winner.
The RSI and stochastic oscillator are both at neutral levels, which suggests that the market is not yet ready to make a strong move in either direction.
This looks like an excellent stock with a lot of potential but there's nobody has any desire to post anything which is so unusual.
The NEO platform is constantly being developed and there are a number of factors that could affect the price in the near future.
The technical analysis of NEO token shows that the price is currently trading in a neutral range.