🟡 Technical Analysis: Neo ( $NEO )

Market capitalization: $510 million.
The NEO chart shows a rather unusual situation, and such patterns are usually dismissed as too complex.

🟡 But we'll try! The thing is, the price is bouncing between clusters of levels. The distance between levels is such that trading inside won't work, and it's not very suitable for a breakout either, since there are many intermediate levels along the price movement path.

How to trade❔

💬 Sell scenario (primary): trade on rejection from resistance level for selling. We must wait for a reversal candlestick configuration as close to the level as possible.
Place stop-loss immediately beyond this resistance level – protecting against false breakout.

💬 Set profit target through the level. As soon as the price reaches the first level, we move stop-loss to breakeven and continue holding the trade until one of the orders triggers.

💬 Buy scenario (alternative): buying is possible, but only with a clean breakout of the resistance level with confirmation.

💬 In this trade, stop-loss is behind the nearest extreme, and profit is before the next level. This should be a regular classic trade with stop and profit.
Important: NEO now requires patience and entry precision. Don't rush – wait for a clear signal!

Conclusion:
NEO is in a technically complex zone, requiring a disciplined approach. Better to miss several signals than enter a trade prematurely and hit stop-loss.

📈 Open trade with $NEO ‌🔗 Chat • X • JioCoinsX