Triangle in play. Trade accordingly.

٣٠ يوليو ٢٠١٨

NEO is trading within a tight 1D Triangle (RSI = 43.412, Highs/Lows = -0.6844) that is oversold on STOCHRSI and Williams. All small, medium time frames are bearish but bearish confirmation break out is needed in order to extend the drop. The break-out point is 32.30. If crossed then we will short (TP = 27.10), if rejected then we will long (TP = 38.25). Due to the bearish 1W channel (MACD = -9.012, Highs/Lows = -9.5783, B/BP = -21.2409), shorts are generally favored on the long run.