Long
Price Momo Reversal
Updated
NEPT finally filled the gap to 2.98, the trendline held support, and it has been in a strong recovery ever since. DPMO crossed above signal line, RSX crossed above midline. The last three trading days, NEPT has been testing the downward trendline resistance that has been forming since September. Although "technically" the TTM squeeze did not fire, you can see the bands squeezing the keltner channel on the chart.
On watch for a breakout above the downward trendline resistance and Ichimoku cloud. I'm buying the breakout above 3.50.
On watch for a breakout above the downward trendline resistance and Ichimoku cloud. I'm buying the breakout above 3.50.
Note
Looking good so far - watch for this to test resistance in the band from 3.80-90; if it pushes through there, it should re-establish key support level prior to drop and return to trading in the 4.xx range
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