Neonode Inc

NEON remains in a Stage 4 decline with persistent lower highs and lower lows under declining EMAs. The active Lower Highs & Lower Lows pattern signals supply dominance, and price trades below the 9, 20, 50, and 200 EMAs with rallies into near-term EMAs consistently rejected. Despite extreme oversold conditions, there are no signs of a repair or stabilization phase. Execution should focus on selling into relief rallies into the declining 9 and 20 EMAs. The primary risk is a sustained reclaim and acceptance above these EMAs, which would invalidate the bearish bias.

• ↑Shifting to 100% licensing model aims to cut production costs and boost gross margins
• ↑Licensing revenue rose 15% to $3.8M in FY2023, driven by automotive and medtech demand
• ↓Total revenue fell 22% to $4.4M in FY2023, with product sales down 38%