A major $2.7988K short liquidation just hit at $14.839 for $NEO , signaling a dramatic shift in market dynamics.
This powerful move could trigger further volatility, potentially igniting a rally as shorts scramble to cover their positions.
Important Details:
Liquidation Amount: $2.7988K
Price of Liquidation: $14.839
Market Impact: With this substantial liquidation, there’s potential for a short squeeze that could push neo higher as more shorts are forced to buy back.
Next Move:
Watch the $15.00 to $16.00 range for potential resistance.
If $NEO breaks through this zone, expect a continuation of the rally.
Be cautious of any retracement around these levels, as profit-taking could cause a brief pullback before the next move.
Stop-Loss Strategy:
Set a stop-loss around $14.50 to guard against a sudden reversal.
This level provides a buffer in case the price loses momentum and starts to drop.
With this kind of price action, swift adjustments are key.
Stay alert for any signs of continuation or exhaustion and adapt your strategy accordingly.