NEU chart, page-645

Morning.

Starting with the weekly as that still looks great and is the important chart for long long holders.

Since the breakout it's back behaving itself inside bollies and above major ema's. Beautiful. MACD is very positive but beginning to roll so worth keeping an eye on IMO.



Now the rolling of the weekly MACD has coincided with the daily MACD already rolled over of course which indicates that lower prices are imminent. Having said that, in my experience, after a SP has levelled off for a while, there's always a bit of a spike prior to any significant fall. We'll have to wait and see.
However the daily is still ok with the SP above the bollie median line, but only just and is weakening its grip.
Two things I'd be watching for in the immediate future and that's the angling of MACD downwards (circled)(you really want to see them rising) and the gap between the two deviations (is it widening or closing?). Of course what's needed as a bullish signal is for the yellow to cross above the red.



Of course with NEU now in "blue sky" territory there is no upper resistance (gee, how many stocks can boast this). So we need to look at other indicators for support levels.
Below is a chart with support levels for those interested.
Red arrows are the popular bollie median and lower bollie.
Blue arrows are the 50 and 200 day ema's
And we have the Fib levels on the right with the important one being the .618
My opinion is that there is some very valid support at the lower bollie level that would need to hold.



Cheers.