Here is one for you penny stock folks.
REED looks like a decent long. As you can see its already tested resistance at the red line(1.21) just as we like. Now we wait for it to retest support at the green line(0.89) and we get in at or below the green line, with our stoploss below white line(0.57). Expect this thing to tag the orange line(1.53) and perhaps reverse...