It's been a while so let's take a look at the price action of NEO and point out critical price points to come up with investment scenarios.
The More Things Change - The More They Stay the Same
If we look at the daily chart of NEO over the past few months you can see we are a bit ranged bound with $15-$16 level being a support. Upside resistance comes in to play around $20 followed by the next level of $24, which we got on that pivot high back in September.
Similar Look on a Broader View
The chart below is the same daily chart with the same exact support/resistance lines as on the chart above. Except now we can see back an entire year.
Notice any familiar price points?
You can see the $15 area was a major support back in October 2017, just as it has been in October of this year. That's right boys and girls - NEO did a full roundtrip from last year's price.
The real question is - will it rally off this level like it did late last year?
You can also see our topside resistance around $24 was also a support level early in what turned out to be a big move to close out the year. That level now acts as support and is our first major price target.
Conclusion
Pay attention to these levels. If we crack below $15 things may get a little ugly. On the upside, $20 is the near-term hurdle, but for a legit extended move we need to establish above $24.
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