NEO Update: Am I Bearish?
NEO at first glance seems to be done with the abc (red) correction. And the c has retraced deeply.
But, shorter time frame pattern shows a little more clarity. A bearish flag pattern is developing and so lower lows are probable. How deep can c retrace? Often, c waves retrace to prior wave 4s and that's around $9.50 or so.
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
NEO is weaker than average. Will continue due to the China ban.
Wow a possible sub $10 neo. Never was in, but some took profits at $40!
thanks for the update.
SO if I wanted to buy some NEO, should I wait a little to make sure it finishes its drop? I see on Bittrex it hit around 15$ yesterday and now its back to 23$ when shoudl we get in and how do we tell when it finishes its C wave?
Thanks!
Buy and Sell decision must be self made. So the question is: given the bear flag, is now the time to be taking buying actions? If not, perhaps waiting to see if prices break either the upper or bottom lines of the flag might be better. And when ready to buy, ladder in your entry. Please review past blogs on laddering.
thank you
I bought in at 18 yesterday thinking that was a fire sale, I'll hold, and go again with a lot
more if it goes to 10.
Holding isn't bad. Remember, this correction will end and newer higher all times will come.
I think you are gonna have to update the chart. It already hit rock bottom during the crash. I don't see it going back to 9 dollars. Plus MONACO and NEO broke out to the right of the triangle from what I am seeing at bittrex, last few hours. Very stable and broke to the right of the triangle. I bought in to both. Have a look I think they are both stabalizing and going to shoot for new highs.
You know something mate. :)