ARKG trade ideas
Genomics ETF --> breakout & measured moveARKG broke out of the parallel channel with strong volume (over 110% tan average 10-day volume).
When there is a break-out, the 5sma tends to be a good rule of thumb to follow the short-term trend; and not lose to much if there is a failed breakout.
RSI shows we are still not overbought at 67; but with strong buying.
Using the bottom level of the parallel channel to calculate a measured move; puts ARKG around $75.
My Favorite ETF into October: ARKGArk Invest is a fund managed by Cathie Wood. I've been following her for about 5 years. She's probably had the best calls I've seen in the stock market since 2015.
I looked through all of Ark Invest's ETFs this weekend: ARKG (genomics), ARKW (Next generation internet), ARKK (Innovation), ARKQ (Autonomous tech & Robotics), and ARKF (Fintech innovation). ARKG displays my favorite set-up out of the 5 ETFs .
- 4 Week Head and shoulders
- Bounced off significant trend line
- Bounced off 50 day moving average
- Most importantly, not much resistance coming
Learn more here: ark-funds.com
ARKG Genomic Revolution ETFI am accumulating a little bit of this ETF as long term play in genome editing and biotech market. I expect solid growth over the next years so moving some of the profits from crypto in it.
Might form a cup and handle on the weekly.
