US stock - ARKK chart update (8-Mar-2021)
Updated
In US stock market, the index NASDAQ and Russell 2000 having a biggest correction since 2020 Mar.
And most of the new economy stocks dropped more than 20% like TSLA, SQ, PYPL etc....
Many people said ARK investment and Cathie Wood is bad/dead now....
Therefore, I would like to show my ARKK trading plan here.
For ARKK, it dropped more than 50% in only 14 trading days.
The 50MA, 100MA all broken, that's crazy....
However, I see there have some support around $110 - 112. (next support is around $104-$105)
This is the Fib Retracement 0.618 + 150MA support level.
Therefore, I bought few ARKK around $111.5.
Actually, the new economy stocks market still not great now and we don't know is that the correction completed or not....
So I would set my stop loss if ARKK broken the 200MA because it mean the uptrend is ended.
Please consider and control your risk in this hard penny market.
This is not financial advice. Just my point of view.
You're welcome to leave your comment if you want further discussion.
And most of the new economy stocks dropped more than 20% like TSLA, SQ, PYPL etc....
Many people said ARK investment and Cathie Wood is bad/dead now....
Therefore, I would like to show my ARKK trading plan here.
For ARKK, it dropped more than 50% in only 14 trading days.
The 50MA, 100MA all broken, that's crazy....
However, I see there have some support around $110 - 112. (next support is around $104-$105)
This is the Fib Retracement 0.618 + 150MA support level.
Therefore, I bought few ARKK around $111.5.
Actually, the new economy stocks market still not great now and we don't know is that the correction completed or not....
So I would set my stop loss if ARKK broken the 200MA because it mean the uptrend is ended.
Please consider and control your risk in this hard penny market.
This is not financial advice. Just my point of view.
You're welcome to leave your comment if you want further discussion.
Note
Bullish reversal for ARKK!I'm still holding it
Trade closed: target reached
Sold on $127.2
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