The RKDA (Arcadia Biosciences Inc) long trade setup triggered an entry on a very brief pop above 2.47 at the open today with the stock falling immediately and drifting back below the breakout level since. As the stated entry was any move above 2.47, RKDA is now an Active Trade although my suggestion for those considering a position that have not yet initiated it, would be to wait for a move above above today’s high of 2.48, ideally on above average volume. The suggested stop remains any move below 2.10.
RKDA daily Aug 30th
Member @oxienergie pointed out that POT is trading up sharply today on rumors of merger talks with Agrium. As POT is a big player in the agricultural inputs sector, those merger talks were most likely the catalyst for the breakouts in RKDA & IPI today. While a breakout is a breakout, ideally we want to see follow-through buying on above average volume or these could prove to be false breakouts. I will continue to monitor the ag sector closely for any new developments.