🧮Technical Analysis: Neo (NEO)
On the current NEO chart, we see an approach to the resistance level – this is a cluster of levels, to which there have been several approaches before. This creates a potentially interesting situation for traders.
How to trade ⁉️
⌛It is currently too early to take specific actions – we react either to a breakout or a rebound.
⏺For the rebound strategy – we wait for a reversal candlestick pattern and only then open a position.
⛔️Set the stop-loss behind the resistance line.
⏺For the breakout strategy – we wait not just for the price to break the level, but for it to close above it.
⛔️The stop-loss should also be placed behind the level.
✔️Profit targets – the next important resistance or support levels.
Conclusion: NEO is currently at a critical decision-making point. Patiently waiting for a clear signal (breakout or rebound) will provide better chances for a successful trade. Avoid premature entries into the market.
