NEOS will trigger a long entry on any break above today’s high of 1.75 which will help to confirm a breakout above the primary downtrend line following today’s earnings report.
NEOS daily Nov 8th
NEOS was highlighted as one of the many long trade setups in the recent Specialty & Generic Drug Manufacturers videos. The price targets for this trade are T1 at 1.94 & T2 at 2.39 with a suggested stop of 1.43 (or higher, if only targeting T1). As a fairly aggressive, low-priced stock with above-average risk & return potential, the suggested beta-adjusted position size for this trade is 0.70 or less.