ARKG bearish in the short run, bullish for next week.
ARKG - great long-term stock to have, but using TA we see that it is likely to fall below the 107 level (also a fib line here). It has been following a 5 part pattern since December and has been trading in an ascending triangle. According to the Stochastic RSI, we are likely to see a small pullback (from 2 to 3) before rebounding upwards. The key level upwards is breaking the 109.15 level (also a fib). Watch and wait for a long entry at that reversal or take a riskier approach and buy puts for the way down. Implied Volatility is relatively low, so buy contracts or spreads for this one.
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