Just opened a long on REL.

Had a few broker upgrades of late and chart looks solid.

Fundys look solid aswel.

UBS has raised its target price for Reed Elsevier from 770p to 790p and reiterated its 'buy' rating for the stock ahead of the publishing and exhibitions group's full-year results later this month.

The broker said that cash returns are "accelerating" and there could be an announcement of an ongoing buy-back programme of up to £400m per annum to maintain leverage.

REL

SP broken through ceiling of a downward trend channel looks very positive for the future, Targeting 300p as first point of call in the turnaround here.

21 May Reed Elsevier PLC REL Deutsche Bank Buy 0.00 767.50 790.00 820.00 Reiterates

SP Target 820p.

REL

Technicaly looking very bullish here the chart......