Did $ARKG just put in a short term top? $97 boundDid $ARKG just put in a short term top? $97 bound.
C-Dub fans - please don't hate on me. This Eth is going to $200+ eventually but could use a ABC correction.
Start loading in the $90s if we see it.
Cathiewood
$NNDM Monthly. Cup and possible handle?NNDM could consolidate this month as it finds itself breaking into an area of previous consolidation, but it still looks strong on the monthly, not topping RSI just yet.
$ARKG Daily.ARKG looking a little overextended, finally cooling off a bit at the top. It might retract to it's 50 MA on the daily. It bounced today off it's November break-out anchored VWAP while volume continues to be higher than normal. There's a gap below the 50MA that could get filled if we drop lower.
UFO ETF -space stock rally on ARK X newsSpace ETF (UFO):
The UFO is a space-related stocks ETF, it is traded 1.2% down yearly.
3 Month Avg Volume 38.1k
1 Month Avg Volume 78.1k (2X)
Biggest holdings:
(Name / % ETF position size)
1. IRDM 5.95%
2. ORBC 5.66%
3. MAXR 5.30
4. TRMB 5.29%
5. LORL 5.02%
If we break the rally into the Eliot impulse wave we can see :
1 Stage:
The first rally started on Nov 2nd after it bottomed down to 21.10$ and went up 9.6% to 23.13. which tells us the space stocks started rallying before the ARK X official announcement and is probably related to Cathie Wood mentioning it in a previous interview and also smart money getting in first on the move.
2nd Stage:
Went up 11.5% (25.84$) in mid-Nov to mid-Dec, in a 3rd wave in the impulse wave (3rd waves tend to be the longest ones), followed by a fourth wave -correction wave that tends to be the stronger one of the two(2,4), price traded lower (24.87$).
3rd Stage:
Price rose 5.8% (27.40$), News of ARK X the space ETF came out.
TOTAL MOVE is 30% in about 2 months
The ETF has finished its first impulse wave and we will see more upside in the upcoming months a lot of it because of ARK’s announcement and the simplest way to enjoy the space stock rally would be to hold this ETF until ARKX is public and tradeable.
BNGO! Nasdaq Compliance #BULLISHAs a lot of people here know, Cathie Wood, CEO of Ark Investments, has been waiting to invest in BNGO. Tomorrow is the Nasdaq Compliance date. This means Cathie Wood and various institutions can finally invest in the stock. I got a pretty large position around $4.5, and I'm not selling below $10-$12.
A newbie in ARKW - SKLZNYSE:SKLZ is a newly merged SPAC which build paid tournament (or gambling) experience into casual online games. And ARK Invest, most specifically AMEX:ARKW , has just newly bought in their shares on Jan 4th and has added another 200K shares just yesterday. From a pure technical standpoint I am not surprised it would breakout from its all-time high of 23.87 on the coming trading day. I am not sure if its going to be another NASDAQ:BNGO , but its definitely highly speculative and a Cathie Wood fandom play.
