Reeds Stock Forecast

Reeds stock price up 2.99% on Wednesday
(Updated on Apr 24, 2024)

REED Signals & Forecast

Mostly positive signals in the chart today. The Reeds stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.80. On a fall, the stock will find some support from the long-term average at approximately $1.67. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.93%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Reeds has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Reeds stock

Reeds finds support from accumulated volume at $1.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 4.12%. For the last week, the stock has had daily average volatility of 2.52%.

Our recommended stop-loss: $1.64 (-4.53%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (REED) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Reeds to open at $1.73, and during the day (based on 14 day Average True Range), to move between $1.55 and $1.89, which gives a possible trading interval of +/-$0.175 (+/-10.16%) up or down from last closing price. If Reeds takes out the full calculated possible swing range there will be an estimated 20.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.76 (2.33%) than the support at $1.64 (4.65%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Reeds stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.220 Buy Candidate Unchanged

Predicted Opening Price for Reeds of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.