NEO - bears are winning

Daily

OK, so we won't be cycling between the two horizontal lines that i mentioned in my last Neo bearish post! Instead we are testing the bottom of the Ichimoku cloud, and if we break through this, the price could move as low as my two thick bottom lines of support.

Volume

As we can see in the above, the bears are winning, and the Volume indicator above is confirming this with each bar increasing in size over the last three days.

What next

If volume keeps increasing (selling), and we break through the cloud, then i think price could potentially do either of the two green curves above.

Thank you

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What do you think of NEO price action at the moment?

SmilingLlama

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SmilingLlama does not provide investment advice, and nothing in his guides or any articles or communications from SmilingLlama should be taken as such, everything is for entertainment purposes. SmilingLlama recommends you seek financial advise from a certified financial advisor before making any investment decisions