On Monday, May 19, FEED neared the 15.66 support followed by a surge of volume. Today, we saw it pull back and level off 16. Near double bottom play with low risk by setting stop below the support. Resistance is at 20 with the potential to break out if global inflation arises as crude reaches near highs and more natural disasters erupt in the world.
(1) Point and Figure (PF) chart shows FEED retracing nearly every move up or down by at least 50% with higher bottoms. It is holding at a trend line at 16. BUY
(2) Slo Sto is approaching a bottom (oversold) and tomorrow's action might give the red line intersecting the black line buy signal. BUY
(3) MACD is bottoming and should trend upward. BUY
(4) Bollinger Bands: FEED went to two standard deviations over the Bollinger moving average to two standard deviations below. BUY
(5) Williams %R is close to a bottom, oversold. BUY
Bottom line: This stock is clearly in an upward trend. With a large percentage of the stock held by insiders there will be a demand for available stock, thus higher prices.
