NEO is on a march to great things, but after this enormous climb over night, NEO will need to take a breather.
After this impulse up, Elliot Wave Theory states that it must retrace in a 3 wave pattern, ABC. We have seen the A --B side of the correction, and now we await the -C drop.
It will need to drop to roughly where A dipped, most likely slightly lower since it will need to test this is the new "bottom" and once the market has confirmed it aint dropping no more = NEO CLIMBS!
After this impulse up, Elliot Wave Theory states that it must retrace in a 3 wave pattern, ABC. We have seen the A --B side of the correction, and now we await the -C drop.
It will need to drop to roughly where A dipped, most likely slightly lower since it will need to test this is the new "bottom" and once the market has confirmed it aint dropping no more = NEO CLIMBS!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.