Neo has retraced all the way back to $110, a Fibonacci level which will provide strong support. We are still very bullish of Neo and expect it to enter the third segment of the impulse of the Elliott Wave soon. The Kovach OBV remains bullish, but the Kovach Chande has turned bearish, indicating the short-term weakness. We have further support from a Fibonacci Fan level at $104, and finally from the psychologically significant $100 level if the retracement continues. We have broken through the central moving average of the KRI, which will now provide resistance at $114. Then we have a Fibonacci Fan level at $124. We must break $136, which is the upper bound of a congestion zone. After that, there are some significant obstacles in the $140's, including the upper bound of the KRI at $140, then at $144 from relative highs and a Fibonacci Fan level at $146.
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