NEO Price Analysis

NEO Price Analysis: Short-Term Bullish Formation

NEO bounced a couple of times off the $31 area to create a double bottom, which is often seen as a classic reversal signal. Price has yet to break past the neckline around $35 to confirm that an uptrend is underway. If that pushes through, price could climb by the same height as the chart pattern or $4 to $39. However, the 100 SMA is below the longer-term 200 SMA to signal that the path of least…
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