NEO.FR - break above the range and possibility for a long entry

21.03.2017 / 11:09

Rating:

NEO.FR - 21.03.2017

Time frame: Daily chart

Long-term uptrend with correction ended in consolidation. The price moved above the choppy and tested the formed support then bounced up.

Price Action: engulfing bullish bar

Technical indicators:

SMA50/200 - SMA50 is above SMA200 and the price bounced up from 50 - indicates positive sentiment.

CCI 50 - crosses above 0 - signal for promotion.

RSI 14 - in the area over 50 - a positive signal.

SL: 27.447

Alternative scenario: if the price back down below the horizontal support then it we may see a continuation of the consolidation.

Jr_Trader_Ivan_Ivanov

Varchev Traders

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NEO.FR - break above the range and possibility for a long entry

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