Neo Cryptocurrency Forecast

Neo cryptocurrency price down 0% on Thursday
(Updated on May 16, 2024)

NEOUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Neo cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $17.23. On a fall, the cryptocurrency will find some support from the short-term average at $15.33. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, April 04, 2024 and based on theory for this formation the price should go up by 10.03% to $17.00 within 12 trading days since signal was issued (Friday, May 17, 2024).

Support, Risk & Stop-loss for Neo cryptocurrency

Neo finds support from accumulated volume at $15.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 5.20%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NEOUSD) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Neo to open at $15.45, and during the day (based on 14 day Average True Range), to move between $14.23 and $16.67, which gives a possible trading interval of +/-$1.22 (+/-7.88%) up or down from last closing price. If Neo takes out the full calculated possible swing range there will be an estimated 15.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.39 (0.43%) than the resistance at $16.43 (6.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Neo cryptocurrency A Buy?

Neo holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.

Current score: -3.665 Sell Candidate Unchanged

Predicted Opening Price for Neo of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.