Neo to gain over 30% in February

NEOUSD

Nice setup for NEOUSD in February

Overall, the bearish case looks weak with a few divergences that had already happened in the past few weeks on the way down.

The support build-up sits at EMA-50 and EMA-200.

Buy orders should be placed around the $10 mark with tight stop losses around $9.5 for both targets.

Target #1

The first target is the local top from January the 18th at $12.20. This will pose a potential return of 22% with a healthy 4.5:1 RR.

Target #2

The second target is the resistance level established at $13.5 from October 28th which was again re-tested in November 13th. Potential return is 34% with 7:1 RR.