Neo Pulls Back

Though we did briefly see $100 Neo last night, as predicted in this newsletter, we retraced sharply at the Fibonacci Fan level of $106, which coincides with the upper bound of the KRI. This likely is the beginning of the corrective impulse of the Elliott Wave. Neo found support from below at $91, the next Fibonacci Fan level, but fallout is likely to continue. Both Kovach Momentum Indicators are solidly bullish. There is still a lot of interest in Neo, so consider this retracement a buying opportunity.

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