Written by Forrest Crist-Ruiz
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.
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 (SEED) and AppHarvest (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.
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