NEOLong
NEO, Cup and Handle breakout
Updated
Dear friends, humans, aliëns, folks,
I want to give you a brief explanation about what NEO could do the next few days or maybe even hours.
If NEO manages to break above the resistance line of the cup and handle pattern which I created, It could go up to 56 dollars short-term, where the next resistance stands.
Please be aware that the cup and handle pattern has been formed with a huge volume spike at the beginning of the handle, this makes the pattern less valid.
We need to wait untill a breakout occurs above the resistance line. If this won't occur soon, NEO could drop to the 50 usd level where the next support stands.
Give me some love and let me show you the horizon.
Greetings, Krypton
I want to give you a brief explanation about what NEO could do the next few days or maybe even hours.
If NEO manages to break above the resistance line of the cup and handle pattern which I created, It could go up to 56 dollars short-term, where the next resistance stands.
Please be aware that the cup and handle pattern has been formed with a huge volume spike at the beginning of the handle, this makes the pattern less valid.
We need to wait untill a breakout occurs above the resistance line. If this won't occur soon, NEO could drop to the 50 usd level where the next support stands.
Give me some love and let me show you the horizon.
Greetings, Krypton
Note
Greetings, Krypton*Note
I forgot to mention that the advance of the cup has been created with a descending triangle pattern (which I showed in my previous analysis). This could make the cup and handle pattern less valid, but still possible!Note
NEO did exactly as I predicted, go see my latest NEO analysis for further details
Note
I had to widen up the Handle, It took a little longer to be created but the resistance has been broken and the pattern is confirmed.
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