NeoMedia Technologies, Inc (NEOM)

[chartist1]

Some NEOM observations...

Today we obviously saw a nice intra-day reversal candle on the daily chart. What "I" am going to look for tomorrow is a strong follow-through day, with volume, that would do 2 things:

1) Make for a huge spike-low reversal candle on the WEEKLY chart. Tomorrow being Friday will give us the completed candle for the week (head-fake elliminated).

2) Have price rise back ABOVE the 200-WEEK moving average, which is just above 18 cents. We broke below it early this week.

If both of those things happen the next BIG hurdle would be getting over the brick wall at 20-cents. That was serving as support, as most of us know. Broken support in turn becomes strong resistance. And THAT is a stiff wall.

C1