On Wednesday, NIA's brand new plant-based protein play and #3 favorite overall stock suggestion Ricebran Technologies (RIBT) gained $0.14 or 4.59% to close at $3.19 per share on volume of 277,400 shares its highest volume of 2019! RIBT successfully surpassed both its 200-day moving average of $3.06 per share and its key breakout point of $3.16 per share!
The last time that RIBT successfully surpassed its 200-day moving average was nearly two years ago on July 13, 2017 and over the following 48 hours it exploded as much as 44.33% above its 200-day moving average!
The last time that RIBT successfully surpassed its key breakout point was a little over one year ago on June 19, 2018 and over the following 13 trading days it exploded as much as 74.58% above its key breakout point!
For RIBT to surpass both its 200-day moving average and key breakout point on the same exact day is a perfect storm situation that could lead to one of the most explosive short-term rallies that we have ever seen any NIA stock suggestion make in history!
RIBT's seven most recent short-term rallies each ended with the stock reaching a 14-day relative strength index (RSI) of between 74.70 and 96.26 with an average RSI at each short-term peak of 80.96. Currently, RIBT's RSI is only 63.83, which means it is no where near overbought levels and needs to rise significantly higher before it is due for any kind of a short-term dip! After RIBT last surpassed its key breakout point on June 19, 2018 it didn't dip until its RSI reached a level of 96.26, after RIBT rose 74.58% above its key breakout point!
If RIBT once again rallies to a level that is 74.58% above its latest key breakout point surpassed on Wednesday of $3.16 per share, we could see the stock rise this month to $5.52 per share! On every single one of RIBT's recent short-term rallies, the stock has reached a new 52-week high! RIBT's current 52-week high is $3.87 per share, which RIBT could easily surpass within days!
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