Monthly MACD crossing, About to be a green. Everyone hating on Cathy. This going to explode. Been DCAing but adding here.
ARKK is complete garbage with many of the stocks in the ETF now breaking to fresh lows. I originally thought we'd bottom in the $45 range (you can see how that panned out in the previous analysis below), but it turns out I wasn't bearish enough. Now, I think we're likely to see a capitulation move down to $22 before it starts to recover. If we look at the chart,...
OK, sometimes it's just too much and your ETF will give you a hint. In I think she's getting it now...? #YourETFHelpsYou
ARKK ETF is in downtrend Rising rates support the thesis
Many people seem to be interested in going long $Arkk because it's already fallen substantially. However, the chart tells me there could be continued downside to come over the next 2-3 months. I lean towards the bottom not being until we hit $60.02-45.92, and my bias leans towards the middle to lower support being hit before seeing a trend reversal. Stay safe out there.
ARKK may be worth a buy in the $40-45 range, but it's not one that I am interested in taking. It's full of junk.
Short $ARKK $84.42. Appears to heavy sell off. Downtrend will continue in my opinion. $ARKK walking on very fine line of support. Any further sell off below $85 area is not good for the $ARKK. Trading below all major moving averages. MACD turned negative recently. Current support level $85 area. If broken below then expect short target 1 is $73 area in coming...
This potential bearish cup & handle is only valid only below $56, so keep an eye out for this one.
An interesting ETF I will certainly be keeping my eyes on ark-funds.com ark-funds.com AMEX:ARKK BCBA:ARKK BVL:ARKK FINRA:ARKK_SHORT_VOLUME FTX:ARKKUSD UPBIT:ARKKRW LSE:SARK LSE:ARK3 LSE:ARKS LSE:3ARK LSE:1ARK BITTREX:ARKKUSDT LSE:ARKA CAPITALCOM:ARKK
I got a bit of criticism over not being clear enough in my previous chart. So i have created specifically a Nasdaq index chart which will show my thinking more clearly. The Nasdaq index back at the start of 2000 was the bull market to end bull markets. The innovation of using the internet was a technological revolution and no one saw an end to the bull...
I'm aiming for $98 based on supply/demand zones. As long as it can clear the noted gap on the volume shelf, I think $98 will follow shortly after.