NEO had a very nice run higher after retesting the 61.8%FIB level BUT failed to make a higher high and starting to show signs of weakness. We are have currently bounced inside the demand zone near the FIB level but seem to be finding resistance at the EMAs.
MACD continues to trend lower and signal line has crossed the midline while RSI is still trying to test the resistance, which has failed multiple times over this uptrend. The EMAs are starting to turn over, which can signal the next move lower as previous crosses have shown so a move higher is needed here for bulls to have some hope!
Thanks guys!
MACD continues to trend lower and signal line has crossed the midline while RSI is still trying to test the resistance, which has failed multiple times over this uptrend. The EMAs are starting to turn over, which can signal the next move lower as previous crosses have shown so a move higher is needed here for bulls to have some hope!
Thanks guys!