Reeds Inc (REED)

[up_and_down16]

All,

The volume spike started when someone sold a 56K block in the low 6's and that begun the downtrend. I picked up some more at 5.90 but was a bit too early. If we look at the 6-month chart, the 5day EMA has been broken but it has bounced above the 20 day EMA and that is a great sign. Stock is holding up and the trendline is very much intact.

I am not that great at TA so would appreciate any other insights as to what you all use. There was no news at all, just pure profit taking.