ARKK holding supportARKK seems to be holding support as sellers seem to slow down.
So it seems to start accumulating and consolidating.
ARKK trade ideas
ARK ABC bottom in & making a Head & Shoulder pattern?ARK seems to be making a H&S pattern targeting a measured move to the median the the channel at 97 which is also a FIB level.
A bottom for wave 4 ABC correction was likely reached when ARK made a lower low last Feb 24 with RSI bullish divergence. So wave 5 continues.
Growth stocks recovering.
Not trading advice
ARKK Divergence MACD + RSI + Breaking Trend-lineARKK Divergence MACD + RSI + Breaking Trend-line...
Opinions?
ARKK - Time to climb out of the crapperARK's flagship innovation fund has been one of the WORST performing ETF's down over 50% from ATH. However, I think a relief rally is due.
- Double Daily Bullish Divergence
- Daily Bullish Engulfing Candle
- Weekly Hammer
- Bounced off the .786 fib retracement/1.618 fib extension
- Targeting $90-$100
ARKK long exit and short entry Butterfly has hit initial target level. If we break the stop loss area on this I might buy again but broad market looks iffy around resistance and this could get hammered again.
ARKK possibly worth a swing for relief rallyJust tossing this one out there:
Cathie Wood's ARKK Innovation ETF is within 1% of completing a round-trip to its pre-pandemic highs. It's also at the bottom of a fairly major parallel channel that it's been forming since February last year. In purely technical terms, it looks poised for a bounce.
This is not a long-term hold, especially with Tesla as the top holding. Valuations remain high, and Tesla is being investigated by the SEC. I also wouldn't use call options to play this. The options premiums are super expensive. I'm just thinking buy a few shares for a technical bounce, and maybe sell at the 20-day EMA.
Counterintuitively, the Russia-Ukraine crisis is a possible catalyst for a bounce. Forecasters seem to think that conflict in Ukraine will make the Fed more dovish this year, with fewer rate hikes than previously expected. $ARKK has been super sensitive to interest rate expectations, so it might be bullish for the ETF if rate expectations ease a bit.
One nice thing about this trade: since we're so close to channel bottom, you can put a stop loss right beneath the channel.
Price seem well supported. Bias on upsideARKK ETF used to be best performing ETF in year 2020. However due to rate hike situation, most of the innovation companies invested in this ETF question by the capability to survive. Therefore we can see a huge drop thereafter.
However, the price have dropped more than 60% since it peak in Feb 2021 supported by 23.8% Fibo..
We are looking at two price level between $50 - $60 for its rebound. If price fail to support between these two level, we may see around $35+
Arkk breakdown has reached target Finally Arkk has reache my expected target of the large symetrical triangle breakdown. We held 64$ well but 60 area was the actual target. Popping back up and now reclaiming 64 as support was a bullish move. I did take a chance and went long ARKK today at 64.05.
Rolling: ARKK April 14th 80C/103P to May 20th 77P/102.22C... for a .93 credit.
Comments: There isn't much extrinsic left in the deep in-the-money short put, so rolling it out to May to collect additional credit and reduce cost basis further. Total credits collected of 25.86 on what is now a 24.22 inverted with a break even of 76.36 relative to where the underlying is currently trading at 65.37.
I'll continue to scalp around this position to reduce cost basis further, but have been working it for several cycles already, so it's more about mitigating loss at this point than attempting to make money on the position (although you never know).
2 Years later, ARKK is in the same place. Today I will update my view on ARKK from the previous post I made.
I found it super interesting to see how one of the most renowned assets in the post-pandemic era has erased ALL its gains from the beginning of the bear market back in February 2020 until now.
From a logarithmic perspective, we can see that the current decline is the deepest one and almost doubled previous declines.
Now I would like to go into technical elements and the situation where we may have interesting trading opportunities.
I am still paying attention to the internal descending trendline. Trendlines are incredible tools to help you avoid getting into the market at the wrong moment. For example, here, the descending trendline can be interpreted as "Below the trendline, avoid bullish setups. Above the trendline, start thinking in bullish setups."
But that's not all; I don't want to see a breakout of the descending trendline only. I want to observe a clear correction with the proportions you can see on the circle. IF that happens, I will trade on a new local high towards the higher zone of the descending channel. If nothing of that happens, because the price keeps falling into the ugliest correction of all, I would stay on the sidelines until the technical elements confirm that we are in a good situation to develop setups.
Thanks for reading; feel free to share your view and charts in the comments.
Buy when others are greedyTesla is a big holding of arkk and now breaking down. But if tesla can hold we might have seen the low. Otherwise look at the next fib level.
Nothing left to brag about..!In an interview with Bloomberg, the ARK Invest founder and CEO predicted that her flagship fund would generate 40% annual returns over the next five years, a big jump over her previous target of 15% to 20%.(Fortune)
Here I compare her 40% prediction with her previous prediction of 15% compound annual rate of return.
In the 40% scenario it will take 3 years to get back on the previous all time high, assuminng it start climbing up right now..!
In the 15% scenario it will take 7 years to get back on the previous all time high, assuminng it start climbing up right now..!
But we all know it is not finished yet..!
But
How long ARK investors will stay calm???
I do not think ARK invest could survive 2022..!
This is not the prediction of a random guy, this is the prediction of a man who see it is coming at least a year ago:
April 29th, 2021:
Title: Apocalypse of ARK invest
Best,
Dr. Moshkelgosha M.D
DISCLAIMER
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ARKKPretty much back to the pre-Covid highs. I don't have a lot of confidence that it will hold. Watching for now.
Weekly / Daily Technical Analysis for ARKK (LONG)AMEX:ARKK
After technical analysis I came to the conclusion that it is worthwhile to enter a long position on ARKK
What made me think so ??
1) The ETF itself, investing in innovation is the future
2) Important support line (65 ~ 55)
3) RSI
4) Volume
And more
* Important resistance line and more:
Averages range 20 and 200
Line 103
It all depends on the state of war in Russia and Ukraine but an equally edited report is undoubtedly worthwhile
don't kill the messengerWell. i know that not all the people agree in how Cathie Wood handle the ARK fund investments, sometimes me neither, but i hope that she takes profits when she sale something, the true is that we have a market full of opportunities and i think a group of intelligent people driving ARKK can see the same. We have two options for this fund, going to $20s or bounce at these level. technically there is symmetrical perfect gigantic bull flag that is like an aberration, and i never seen something so perfect, perfect parallel lines 25 degrees each, the flag has a hidden message and maybe it's a bull trap and will end converting in a wedge. at the end the rewards will come like with other market opportunities.
$ARKK ETF AnalysisThe Exchange Traded Fund ARKK is now trading above a key level in the market, which might give us a possible rejection at 61.18
below this key level is an attractive buying zone according to previous year price action after the COVID-19 crash
consider this as a long term investment especially while buying this dip but wait for a bottom confirmation pattern (double bottom, wicks rejection at demand level, triple bottom...)
I think ARKK might have finally bottomed for now. Been a big bear for a long time on pretty much everything ARKK is involved with but exited a lot of these positions at their respective profit targets or by trailing stop where the downtrend has lost momentum. I think ARKK may be set for a bounce now.
Possible butterfly low.
ARKKHoping for a bounce here on ARKK around 54-60$
This thing is heavily oversold. ROKU is a POS and likely will continue towards 90$.
ArkkFell from rising wedge hit my first target area 64.40 ish. Previous low. Could get a bounce here as a relif as high as 71$. But it may not even reach that area..it’s def bearish but I’d expect bulls to take some control. I closed a lot of my SARK for now but will buy the next potential loss of this ARKk 64 area
Opening: ARKK April 14th 50 Short Put... for a 1.47 credit.
Comments: Adding to my ARKK position on weakness. Total credits collected of 24.93 with a 78.07 break even relative to where it's currently trading at 66.92. (Ugh). This also wouldn't be bad as a standalone trade, with rank/implied at 78/72, paying 1.47 on buying power of 5.12 (28.7% ROC at max).
ARKK $38-$50 targetHow low can it go? Low. ARKK is in deep bear market territory. It could see possible bear market rallies but overall on weekly/daily basis the trend is down. FED hasn’t even started rate hikes or tightening and etf is already down over 50% off it’s ATH. I am expecting at least $38-$50 to be reached (pre covid trading range), and most likely eventually even lower. Main drivers being compressed multiples, low liquidity which will spiral prices lower once etf redemption start taking place, future growth projections will also come down.
I actually wonder if this fund will be even investable eventually or if could be just closed. Cathie on CNBC sounds like she is crazy, idk if it’s just an act or if she is actually losing it. She is boxed into the corner. She is not in the position to change her strategy. She can’t just say “well, we are expecting prices to come down significantly so we will exit most positions for a year or two and park $$ in cash or appl, etc. once financial condition start to look up we will re-enter our holdings”. I’m not even going into quality if some of her holdings.
