Reeds Inc (REED)

[up_and_down16]

I was in the middle of replying to both you and slojab on Friday but got waylaid due to work. I am no TA expert and know very little of it. What I use is what I have come up with or gathered over the last couple of decades that I have been trading.

Friday, I saw the upturn happen in the last 2 hrs before close and was confident that the selloff was done. The weak hands were shaken off and it was time to resume the upward trend. The 20 day EMA held strong (~5.50), the price went above the 5 day EMA, MACD went positive and the stochastics rebounded from oversold territory. All factors now point to a bullish move. I am hoping that CR can make some announcement this week which will propel it up further.

DarkLady, slojab, your thoughts??