NEO trades in a symmetrical triangle consolidation pattern. This type of triangle usually signifies a period of consolidation where neither bulls nor bears are in full control
NEO trades in a symmetrical triangle consolidation pattern. This type of triangle usually signifies a period of consolidation where neither bulls nor bears are in full control, leading to a potential breakout in either direction once a catalyst occurs.
Since the price is narrowing, it indicates that NEO is coiling up for a breakout.
Therefore, it is essential to watch the trendlines closely. However, these types of patterns risk performing false breakouts prior to the final one. Accordingly, it is important to look for confirmation on a higher timeframe before entering a trade.
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