NEO is Clean & Correction Possibly Complete

1 Oca 2020

NEO is definitely one of the better alt-charts I've seen. A clean five waves up from the lows which completed back in August 2017. What follows looks like an expanded flat. When a market as a whole shows strength, even corrective moves can be very powerful, hence the B wave took out the previous high during late 2017. That didn't last for long though and was swiftly followed by the C wave. For a completed C wave, I'd need to see five waves down and that's clear to see in this chart. It also tagged the 0.618 which is considered typical for a wave two correction. There are many others that have significantly deeper corrections which is why I consider NEO to be a decent bet.

I'm expecting wave three to ensue through 2020
Targeting 1.6 - 2.6 extension of wave one (linear-fib)
If the September 19 low breaks, it'll likely make its way towards the next fib or support level
Fundamentally, I've done very little research
Definitely one to add to the 2020 watch-list

This chart may age like a glass of milk in the sun, thus, it should be considered purely as speculative analysis.

Any EW traders with a different view, feel free to share.