Some thoughts on the potential direction of Neo in the next few days.
Range bound with a strong band of resistance in the near term.
Massive upside potential given previous price action if volume increases significantly, breaks resistance (the red line), if support is maintained above the red line or near it and bullish candle patterns emerge with positive volume and accumulation. If not then a drop would be more likely.
+ (Chinese New year factor) which tends to increase volume and price significantly in the near to and post Chinese New year (which is 5th February) so the chances of this happening are in my mind high but the rise will be wild if it does happen.
Range bound with a strong band of resistance in the near term.
Massive upside potential given previous price action if volume increases significantly, breaks resistance (the red line), if support is maintained above the red line or near it and bullish candle patterns emerge with positive volume and accumulation. If not then a drop would be more likely.
+ (Chinese New year factor) which tends to increase volume and price significantly in the near to and post Chinese New year (which is 5th February) so the chances of this happening are in my mind high but the rise will be wild if it does happen.
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