ARKK bullish - wave 3 of (5) startedWe have entered the final wave (5) of the impulse from the start of the EFT
Expected target 200-250 mid 2022. By then expect a significant drop
ARKK trade ideas
TrendyCharts: ARKK Inverse H&SThe bigger picture shows a wedge with price at the bottom range. We've got two confluence patterns here
Inverse Head and Shoulders
Break of trendline
PT right before supply.
$ARKK expecting another leg downSince July, ARKK has been trading sideways in the consolidation/distribution zone with no unusual volume for about 2 months. End of September we are seeing increasing volume activity to the downside.
i believe it's going on wave 3 and downside target should be around 99.80-100.
Oct 7 seeing the retracement up and hit a resistance level (~113) which is the blue zone area.
ARK Innovation ETF (ARKK) • Signs of weakness still in placeARKK currently in a no-man's land. But there are some signs of weakness showing up.
It looks like it is better to stay out of ARKK for now.
Next major supports around 95 and 70. Confluence between monthly opens and 50% retrace levels.
Are we on a relevant bouncing level on ARKK? Today we will take a look at Cathie Wood´s flagship, ARKK.
Main elements of the chart:
a) The price is against a resistance level + Lower trendline of the flag pattern (bigger white structure) + Lower trendline of the inner descending channel.
b) Generally speaking, every time we find this level of alignment between technical elements, we tend to observe good reactions.
c) So, should we BUY? No, remember that you should always use confirmations or filters before taking action. In this case, we want to see a bounce + small correction on the edge of the inner descending channel. If that happens, we can think about trading towards the higher trendline of the flag pattern (bigger white structure)
d) What are the targets I can expect? We have two to propose. The first one is the higher trendline of the Flag pattern, and the second target is the resistance level at 130.00
e) Speaking about duration, we can expect a 50 to 70 days movement for a full movement like the one we are expecting
f) We also have defined a red horizontal line that represents an invalidation level for this analysis. That means that we will assume that the price broke the current level, and we should expect bearish pressure until the next support level.
Thanks for reading!
An opportunity coming?Looking for a C wave to start soon, and the stochastic is looking over sold on both daily and weekly time frames.
-32% in the past 32 weeks!The weekly chart of ARKK could show you a very beautiful picture of what you are going to experience in the next 25-74 weeks..!
As you see, ARKK could stagnate for a long time before any breakout! the last 2 stagnation period were as long as59-106 weeks!
In the past 32 weeks, it has lost 32%, and its price volume decreased more than 70% from 13.4 billion a week to 4 billion!
Crossing below the 50 EMA in the weekly chart should be considered a very important negative factor!
Any asset could be a buy or sell opportunity at any given moment, and we should look at the opportunities, not the asset's name!
Moshkelgosha
$ARKK Looking for $100I'm aiming for $98 based on supply/demand zones. As long as it can clear the noted gap on the volume shelf, I think $98 will follow shortly after.
ArkkAs we built this desceding triangle, and lost 113$ suppor we could make a case that is besrish and going back to 90$ howver we ca also say we have exagerated bullish divergents As we broke lower in the price actipn but the 3 hour rsi is showing strength has maintained the same as previous drop. If we look as lower time frames im seeing a potential bear flag or contiuation pattern to the down side. We did confirm that bullish divergents so we have dissagreeing charts on multiple time frames…. If we reclaim 114$ we could see a good size move. However if we lose the recent low, things will be looking alot more Weak
ARK invest and no plan for 2021..!This is a comparison between the so-called ARK invest flagship AMEX:ARKK and SP:SPX , TVC:NDX , TVC:DJI , and TVC:RUT .
While all major indexes show a positive return in 2021, ARKK is -10% negative in 2021..!
Let's look at her past performance in case a crisis happens in the market!
2008: Cathie Wood
UNDERPERFORMS Category, UNDERPERFORMS T Rowe
ABSRP: -45.12% (before fees)
CHCIX: -48.28%
PRNHX: -38.78%
Growth Category: -43.77%
These numbers speak..!
Best
Moshkelgosha
ARKKARKK looks on daily, symmetrical triangle looks textbook. The break of the triangle would also resume in a volume breakout as we can see with the volume profile ! Dont miss that one !
$ARKK Consolidation StraddleArk is strongly respecting these lines looking to see if it wants to break down or consolidate further.
ARKK: Not Taking On Water....YetThese levels have created a pretty impressive price channel. At some point this will give way though.....~115.62 holds the key for the bulls who have been waiting for this ETF to catch fire. I suspect they might be disappointed.
$ARKK Daily - strength Friday during the bloodbathAs promised here is the ARKK daily so we can see the count better. Right now we are coiling for a wave 2 and I think we are likely to see one more flush before a massive rally. Wave 3 PT is 166, so don't want to miss this move. I think it will likely be a leader during the next leg up ( which should begin sometime next couple weeks when markets bottom).
My wave count has us going down one more time to finish off our wave Y, which could be between 114-107.
How to trade this: For me, I dont want to miss the move up, but I also dont want to jump the gun and sit in on a flush going down to 110 range (if it goes that low). So, with that being said I am looking at this two ways. 1) a trendline break to the upside I will go long on the backtest. OR if we end up in my red circle. So set 2 alerts and then let the market come to you
$ARKK looking like the next leg up is going to ATHI am going to have two charts posted off of this, the weekly is this one, and the daily chart momentarily.
Right now I see us looking to put in a wave 2 of the cycle wave 5. The next move upwards will be a ripper. I have PT of 165 range for wave 3 top.
I will be eyeing 150 c's and will put more detail on entry / exit ideas on my daily chart
Ark Innovation ETF - ARKK - Technical outlook is bright?Ark Innovation ETF - ARKK - Technical outlook is bright? Found support in he 61.8 % fibonacci level. Technical longterm price target $160? We will see?
Opening (IRA): ARKK November 19th 100 Short Put... for 2.09/contract.
Comments: With 30-day implied at 40% or so, adding in some November here.
