With volume drastically tapering off following the early session high-volume breakout, RKDA fell back down below the trendline & exceeded the suggested stop below 2.10 yesterday. Although snapping back today, until & unless RKDA takes out Tuesday's high of 2.48 along with a confirmed rally in the ag sector, the near-term outlook for this stock [...]
The following notes & chart outline the entry criterion for the RKDA (Arcadia Biosciences Inc) trade setup, including price targets, suggested stops & some additional comments on this trade as well as the agricultural sector.
RKDA (Arcadia Biosciences Inc) will trigger a long entry on any move above 2.47 with a suggested stop below 2.10 (or higher if only targeting T1). The entry on a move above 2.47 was set somewhat above this primary downtrend line/symmetrical triangle pattern in order to help reduce to odds to going long on a [...]