NEOUSD - Technical Analysis October 2, 2017 - Current Price $36.64

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chart-1905225_640.png

NEOUSD

NEOUSD has broken its recent downtrend and continues to show strength. If you missed the meat of the move, we are looking to take a bullish position on any dip that attracts new bulls to try and test and break the previous high which was a double top at $58.50. Falling short of this level would produce a lower high on the weekly time frame which would indicate a longer term bearish trend.

Neo is a perfect example of why we don't chase. If one were to buy here, they could get lucky or "rekt". Patience for the right set up is key.

daily

Looking for neo to test 58.50 as it has started a new uptrend. We are watching for a dip buying opportunity given as it is currently pulling back off of the high of the day and looks like it will close the day with a harami candlestick.

Note the Stochastic RSI which is currently in downtrend with the RSI trending up. Volume would bring a bullish MACD cross.

Screenshot 2017-10-02 18.18.51.png

4 hour

On the 4 hour time frame we are watching the stochastic RSI that appears to have begun trending down and could drive a pullback.

Screenshot 2017-10-02 18.19.37.png

1 hour

The 1 hour time frame shows a bearish MACD cross possible while it conflicts with the curl upwards in the stochastic RSI after the price found support on the 30ema. Bulls need to hold this level of support.

Screenshot 2017-10-02 18.20.09.png

Bullish Above: $44, would look for capturing this level to hold and drive the price to $58s

Bearish Below: $33 - would look for a test of the pivot $28. Very bearish below $28

RISK TRADE: scale into a long position here, sell below pivot.

don't forget to set stop losses!

1 week

The weekly chart is part of what caught my attention with NEO. As mentioned earlier, falling short of a test of the $58.50 level would indicate a longer-term downtrend. Failing to break it, bulls, investors, would look for a higher low on this time frame to print.

From a technical perspective, the strength of the bounce off of the 30ema on this time frame was a higher low and there was a lot of strength behind the move.

Screenshot 2017-10-02 18.20.44.png

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Wow few days ago it was only $30 now it almost $37.Thanks for the info i will upvote and resteem

Definitely worth an upvote and a resteem :]

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Thanks! great post! My name is Jerry and I'm the founder of Coincheckup.com. We did Fundamental analysis on NEO. Besides that we present all important investment stats and long-term price predictions on our website and we're working on other cool features like: Coin Comparision and technical analysis.
I was wondering if you could give us some feedback to improve our platform: https://coincheckup.com/coins/neo/analysis

Any feedback would be really appreciated. We're committed to supporting the crypto community to the best of our abilities.

Many thanks in advance.
Jerry

Thanks for your comment Jerry. Fundamental analysis is tricky on crypto as the firms behind them are not publicly traded there is no way to determine the health of the underlying company and the impacts that may have on the given security that they back. I actually like your platform, have already seen it!

great to hear this @satchmo. YEah true fundamental analysis is difficult. We mainly try to give all the insights we could give on a coin... Anyways, great to hear you like it. Feel free to let us know if you see any other improvements.

just had another look - perhaps some clearer disclaimers such as on the predictions pages. Crypto folk are not exactly the most affluent of investors. Overall I think you guys provide a cool service, looks great and it will just evolve over time.

Cheers!

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