NeoMedia Technologies, Inc (NEOM)

[chartist1]

NEOM CHART OBSERVATIONS:

From a purely chart perspective something is likely to happen very soon as price is squeezed right at support and resistance.

1) Price has held at 0.01 support (as previously suggested on the weekly chart) for the past 10 trading days. A break and close below this support would likely lead to a further decline. However, price is currently right at the ceiling of the down-sloping channel that NEOM has been sliding down since the 0.024 high on Oct 27th.

2) Price has been trapped between the middle and lower Bollinger Band on the Daily Chart since Nov 24th and the band is slopping down and that is bearish.

3) On the weekly chart price has now closed below the Middle Bollinger Band for 3 consecutive weeks with both the RSI and Slow Stochastics in a firm downtrend.

Note: If price were to break above the ceiling of the down sloping channel, with some nice volume, I would take a partial position in this stock....but sorry...."loading the boat" all at once is almost never the best play.

The advantage of charts at this low price is partialy to see if there is an indication that you can add shares at a much cheaper price from a % standpoint. As I said twice before, there is some indication that the broad trend "could" be changing when you look at the past 18-months on the weekly chart. That, however, is NOT YET Conclusive.

Have a great week!

Chartist1