NEO May Be Offering a Trading Opportunity With Its Cross Below Its 100 Moving Average

The Hourly View for NEO

  • At the moment, NEO’s price is up $0.01 (0.02%) from the hour prior.
  • NEO has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Of note is that the 20 hour changed directions on NEO; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NEO’s hourly price chart is shown below.

NEO

The Daily View for NEO

  • At the moment, NEO’s price is up $0.81 (1.8%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, so that price is now turning above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between NEO’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NEO’s price.

Below is a daily price chart of NEO.

NEO

Featured NEO Idea From TradingView

Below is a trading comment entitled Diamond Diametric, Wave G you may find interesting:

The gold is on Neo Wave pattern Diamond Diametric, wave G. So, we expect a strong bullish movement after.

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