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Is It Time To Watch The Agricultural Tech Trend?

Published 07/13/2021, 12:23 AM
Updated 07/09/2023, 06:31 AM
NDX
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XAU/USD
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XAG/USD
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US500
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DJI
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US2000
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DIA
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SPY
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QQQ
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IBB
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DX
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GC
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SI
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CL
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NG
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GLD
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SLV
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TAN
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UNG
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XME
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IWM
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SEED
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VBK
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KRE
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XRT
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JNK
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TLT
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IYT
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DBA
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USO
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SMH
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XLU
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APPHQ
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Supply chain issues have become a common term heard throughout 2021 now that companies are struggling to bring back pre-pandemic supply levels.

With that said, scaling supply is not so easy and takes time.

This is especially tough within the agricultural space which operates on cycles and can take multiple years to increase yields.

SEED-APPH Daily Chart

Therefore, the agricultural technology trend is becoming even more critical to the way we farm and produce food.

This problem opens the door, not only for innovative companies, but for investors who see the trend unfolding.

Agricultural technology generally refers to any tech involved in farming, from genetically modified seeds to new machinery, water/soil management, and more.

Currently, companies such as Origin Agritech Ltd (NASDAQ:SEED) and Appharvest Inc (NASDAQ:APPH), are on our watchlist.

SEED’s recent burst in price action gives it some of the strongest momentum, however next, we would like to see it confirm a recuperation phase with 2 daily closes over its 50-Day moving average at $10.75.

Additionally, APPH also needs a break over its 50-DMA, for it has resistance nearby at $15.30 dating back to 03/05.

Once it clears the 50-DMA, the next major resistance level comes in at $20.00.

ETF Summary

  • S&P 500 (SPYNew highs.
  • Russell 2000 (IWM) Sitting in a choppy area. Needs to clear highs. 234.50 area.
  • Dow (DIA) 351.09 high to clear.
  • NASDAQ (QQQ) Holding near highs.
  • KRE (Regional Banks) Needs to stay over 63.63.
  • SMH (Semiconductors) 245 main support area. 262.50 resistance.
  • IYT (Transportation) 251.78 support.
  • IBB (Biotechnology) 159 support area. 165.79 resistance.
  • XRT (Retail) 99.24 main resistance.
  • Junk Bonds (JNK109.57 support.
  • XLU (Utilities) Holding over the 10-DMA at 64.18.
  • SLV (SilverTrading sideways.
  • VBK (Small Cap Growth ETF) 293 resistance. 280. Support.
  • TLT (iShares 20+ Year Treasuries) Watching to hold the 10-DMA at 145.70.
  • USD (Dollar) 91.40 next support area.
  • DBA (Agriculture) 17.54 support. Siting in resistance around 18.02.
  • GLD (GoldTrust) Bounced off the 10-DMA at 167.43.
  • UNG (Natural Gas) Watch for our next target at 13.59.
  • TAN (Solar Energy) Confirmed back into an accumulation phase with close over the 200-DMA.
  • USO (US Oil Fund) 48.22 recent support.
  • XME (S&P Metals and Mining) Needs a phase change over the 50-DMA at 44.57.

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