Replies to post #378 on Reeds Inc. (REED)

[olddogwithnewtrix]

technically REED is sitting right at support. But it has hovered just above the 50 since March, and with the 50 above the lower bollinger and RSI with a little room before it's usual base, we could see the high 6s. Stock is in a wait and see mode, but it did try a near term triple bottom today. All of this is on such low comparative volume (which is a positive)that it is impossible to confirm. If you have been holding for a while, I wouldn't worry. I just got in, so I would like to add at a lower price.

The stock is not a value play -yet. So they are going to have to show something to keep people interested.

[DarkLady]

I sold most of my position, took profits. I think the stock is slightly overvalued above 8. They need additional profits to propel the price higher. I am sure it will come. I may be back in. I have it on my radar. I saw more profitable possibilities.

If you want my technical analysis. I trade weekly, not daily. The weekly have started to roll over. The Worden Brothers propietary indicators are still strong. It was OK to exit, cheap to get out of and back into. Chalkin is failing, the Trix and PPO are turning, Tne MACD and ADX are about to turn.