Good evening steemians.
This evening we will analyze the cryptocurrency NEM, behave as we predicted in our previous post, https://steemit.com/cryptocurrency/@chepexx/nem-21-05-2018 and this may be a good time to collect profits.
If we analyze the 4 hour chart we observe that the price is at 3577 satoshis broke a previous minimum and almost touched the 78.6% level of the fibo, and the rsi and stochastic indicators reached oversold which activated our purchase signal.
By looking at the indicators the stochastic is overbought and the rsi is at level 50, a good move would be to take profits or move the stop near this level.
My recommendation to take a little profit, bring our stop or place a take profit near the 61.8% level of the fibo.
For now it's all friends later I'll be sharing my analyzes and market appreciations, cryptos, ics and more.
I say goodbye thank you for your attention, have an excellent week.
Legal Disclaimer: All my analysis are just showing possibile scenarios and not predicting the future. Technical analysys gives wrong signals very often and it just give clues to reason on the future development of a financial product. The price move often in a unpredictable way. Never invest basing only on my predictions which can be wrong and always use a correct money management. I do it for personal interest for free, I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind.