NeoMedia Technologies, Inc (NEOM)

[chartist1]

Aztreedoc....he was right....

I should have said 0.01 as support. I was a little busy and typing fast. My bad. Thanks for the correction.

NEOM is clearly in a down channel and both the up and down movements of the past 5 days (while somewhat exciting) are all within that parallel down channel so it's mostly noise. It would take a move above the channel on significant volume to make me think we could have a sustainable move higher. I still see the 1st line of significant support at 0.01

Chart reading is a lot about knowing support and resistance. If you know where that is you can be well positioned for the next move.


Happy Thanksgiving!

Chartist1