ARKK is at major resistance. It is at the upper trend line from the channel and pretty close to BigReed or 200 days MA. It is also at resistance from October and November highs. All those resistance will highly likely act as resistance from which level the price should current.
The price definitely confirms today's price action which is bullish.
It is above 8, 20, and 50 days MA but it is below BigRed or 200 days MA:
RSI is way overbought and is due for a correction.
MACD has strong negative divergences and is not confirming this price action which is bearish.
Overall: ARKK is due for a correction. It is a major level of resistance while at the same time, RSI is overbought and MACD has negative divergences therefore we are giving it a sell signal. We will need to wait to see is it bears the flag we will have small consolidation on this level and then a strong move above Big Red.
The price definitely confirms today's price action which is bullish.
It is above 8, 20, and 50 days MA but it is below BigRed or 200 days MA:
RSI is way overbought and is due for a correction.
MACD has strong negative divergences and is not confirming this price action which is bearish.
Overall: ARKK is due for a correction. It is a major level of resistance while at the same time, RSI is overbought and MACD has negative divergences therefore we are giving it a sell signal. We will need to wait to see is it bears the flag we will have small consolidation on this level and then a strong move above Big Red.
Note
Bearish Harami it seems. In short position for 38.97 after 1H drop below 20 MA.
Consistency is the key of success....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Consistency is the key of success....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.