Food Innovation

[gfp927z]

Nice move for RIBT, especially considering the overall stock market was on the ropes today.

RIBT blasted right through the .65 resistance level, and on big volume. Sounds like the company is benefitting from the global supply chain disruptions, and the chart looks promising for a possible run to 1.00 :o)

Meanwhile the broader stock market is looking ominous, and the S+P 500 could fall through key support soon. It tested the key 20% bear market level (~3855) last Thursday and bounced, but I figure this time that support will likely fail. If so then next support should be ~ 3600, based on the chart -

https://investorshub.advfn.com/Chart-Patterns-and-TA-33164/

Still early, but I'm working on a strategy to gradually re-enter the stock market over the next 6 months or so, using a daily/weekly incremental cost average approach. Small amounts each week spread out over time. Starting to see some nice bargains out there, but still early. With a recession, I figure we may see the S+P 500 at 3400 or lower. At 3400 the total drop from the Jan high (~ 4800) would be only 29%, so the bottom could be lower, but 3400 may be close enough. Time will tell..



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