ARKK Ending Diagonal PlayIn this update we review the recent price action in ARKK and identify a high probability trading pattern and price objectives to target.
ARKK trade ideas
ARKK nearing it's last line of supportIf it breaks this line in the next couple weeks, it could spell the end of any potential fast recovery of the ARKs and could take almost a decade to even return to these current prices. Also would mean to me that the overall market will be going into a depression, so you won't have much fun in BTC, NDX or SPY either.
There is still a possibility of a V recovery like the last 2 times, so that is something to watch for, but I'm finding it hard to believe now, the recovery pattern just looks strange to me. However, a couple bullish indicators are that the volume has peaked since Jan and the RSI is intensely oversold.
Does ARKK have further down to go?It certainly seems the bubble has popped in ARKK, but is the bottom in or is there still further downside? We are entering a major area of support so should expect a bounce. The structure has many similarities to the 2000 bubble with the brief consolidation after the top was in followed by a extremely sharp leg down followed by some bounces and further moves lower. Or is the downside mostly done and we should expect a strong bounce and test above $100?
Deader Cat BounceOverlay is dot com bubble... timing cycle indicates this thing is ripe for a squeeze to the upside to chase the 200 week moving average (blue) when it hits an obvious area of support. June 50.22 calls tomorrow morning and adding on all dips.
Should be a sharp zig zag back to 70+.
A False trend and how you should trade it..!Most of Cathie Wood's followers were playing in the kindergarten or elementary school playground when she underperform the market in 2008.
According to Alliance Bernstein documents, she had -46.72% net return and -45.12% pure gross return in 2008..!
Interestingly, Positive alpha over every annualized time period (10-year alpha: 2.4%)
Cathie Wood on her way to break the record of 2008:
ARKK -44.48% YTD return and -58.32% YOY return is like a punch in the face of its investors
I strongly recommend reading George Soros books it will help you to make money in all types of markets..!
One year ago on March 13 20211:
Reference:
www.alliancebernstein.com
Best,
Dr . Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
ARK Innovation ETF (ARKK) • Cathie Wood quitting McDonald's soonThis chart looks nasty and that is paradoxically good.
There is good enough probability that ARKK found the bottom with strong volume reaction and price sitting at .7 levels from the highs.
At least bottom probably is found around these levels after a very violent 59% drawdown from ATH.
It is a bit early to tell but so far those macro selling volumes are looking to offset the buying climax at the top.
𝗔𝗥𝗞 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗨𝗽𝗱𝗮𝘁𝗲: $ARKK Daily. YikesFollowing the death cross has been in bear market .. how low is this going? Under 60 and no support until 50
$TSLA $SQ $ROKU $TDOC $BIDU $SPOT $Z $SHOP $QQQ $SPY #ElliottWave #Stocks 📉
$ARKK — Bearish Cup & Handle PotentialThis potential bearish cup & handle is only valid only below $56, so keep an eye out for this one.
It seems ARK invest is not able to read the inflation story ..!Being on the wrong side of the equation will cost you a lot..!
Cathie Wood's performance history in 2008 showed that..!
I think she has a high chance to break her -48% (negative) return in 2008, after 14 years..!
Why?
in the first 3 months of 2022, her flagship is down 35%..!
Forecast:
ARK invest will not survive 2022..!
Best,
Dr . Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA , an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Cathie Wood’s Oil price prediction..!To all those who blindly follow someone:
I warned you at least a year ago, ARK invest is nothing but a social media campaign to create bubbles..!
Look at the oil 125 price , and ask yourself:
What if all Cathie Wood’s prediction end the same way?
I recommend to watch her CNBC interview to see she is in total denial phase..!
Like a very rookie trader..!
youtu.be
And on last question:
Is it possible that you do not know if the person who provides the seed money for your first 4 Funds is still ARK’s shareholder or not???
Wood said she had sent Hwang a note "wishing him well" after the Archegos collapse. Wood said she had no idea if Hwang had remained a shareholder in Ark ETFs.(yahoo)
www.yahoo.com
Best,
Dr. Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
ARKK to $44.32 by end of Oct 2022ARKK starting wave 3 of C, If we get a bounce to the upside near $103, sell.
Levels to keep an eye out for possible reversals to the upside retracement before continuing the fall toward $44.32
$81.40 .382 fib of the 2020 low to 2021 high
$70.12 fib 8 - we should see a lot of sideways movement here or price coming back to this area repeatedly.
$49.33 fib 5
Rolling: ARKK March 18th 59.22 Short Put to June 47.22... for a .05 credit.
Comments: Giving myself more room to be wrong on the put side ... .
Rolling: ARKK May 20th 77 Short Call to May 20th 64.22... for a 2.85 credit.
Comments: Total credits collected of 30.85 on what is now a 38-wide inverted, so just looking to close out the entire position for less of a loss than what it is currently at this point.
ARKK Isn't dead. YetNot many people can spend 5 minutes away from their phone, let alone imagine a 5-year time horizon. Cathie has surely been wrong and has a horrible average in some of these companies. I'm willing to take a small starter here, as a lot of them are due for some love within the next year. (I think the Fed is full of shit, as always)
this is really simple; oversold bounce (ARKK)i dont think i need to spell it out for people when i say this is oversold, and should bounce. yes this thing really collapses when the market takes an unexpected turn down, but then it makes very predictable reversals. we should hit that vwma. whether it is resistance or not we shall find out.
Opened: ARKK May 20th 49.22 Short Put... for a 2.14 credit.
Comments: Total credits collected of 28.00 on a 25.22-wide inverted with a put side break even of 74.22. Ordinarily, I would have rolled out the shorter dated March 18th 59.22 at 50% max, but I sold it for 1.83 and it finished the day at 2.03 with 15 days to go, so will just look to take it off on approaching worthless if I get an opportunity to do so.
ARKK holding supportARKK seems to be holding support as sellers seem to slow down.
So it seems to start accumulating and consolidating.
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.
