ARKK trade ideas
Rough water ahead for the ARKKI'm potentially bullish after the 1 week death cross, as that was an indicator previously of a rebound.. I'm not so sure that is the case this time around.
What confirmations would you look for before going bullish on ARKK?
Opening (IRA): ARKK September 17th 102 Short Put... for a 2.44/contract credit.
Comments: Laddering out a little bit in ARKK, whose 30-day's still fairly decent at 47.2%. 2.45% ROC at max. I now have two "rungs": the August 20th 110's and the September 17th 102's. Generally, will take profit on approaching worthless or take assignment if that happens, sell call against.
ARKK LongARKK touching the bottom trendline, MFI and RSI oversold on the hourly, and gap filled? My guess is a bounce tomorrow. Not trading this one though.
Time to Add Onto ARKK Position?ARKK appears to have regained bullish strength after rallying above a strong level of resistance now flipped into support. And looks to be currently consolidating on-top of it. All of these are very bullish signs.
Keep an eye on the start of the new week as ARKK has already confirmed a full body candle close above the key weekly support level. How it starts out of the gate this week will be key. If it begins Tuesday in the green, a quick 6-7% pump could happen to retest the upper resistance at around 134.75 - 137.35 approximately.
A long seems safe right now but it will be worth monitoring as the daily RSI is nothing to brag about currently. Tight stop loss at 127.67 would be wise.
ARKK - Projection PathSee attached projected weekly path for ARKK
Top 5 Holdings include:
TSLA - 10.25%
TDOC - 6.09%
ROKU - 5.71%
SQ - 4.65%
SHOP - 4.23%
ARKK Hugging ResistanceInteresting stuff. Hugging the resistance line I drew a while ago. Watching closely.
Opening (IRA): ARKK August 20th 110 Short Put... for a 1.95/contract credit.
Comments: One of the few remaining exchange-traded funds in my options highly liquid list with 30-day implied greater than 35%. (The others are MJ, XBI, and EWZ). Here, selling the 16; 1.80% ROC as a function of notional risk.
ARKK reversal and new bull trend.It does have a gap to fill lower, but looks like a bottom is confirmed and good potential upside compared to the QQQ.
Stocks - ARKK Wyckoff Distribution Sub 40 by EOYIdea for ARKK:
- Classic Wyckoff Distribution.
- Drop begins June 30-Jul 1.
GLHF
- DPT
ARKK watchARKK is like SPY for growth tech. I really would not consider shorting any growth tech until it breaks the bottom trendline on the daily close. Last time it did the drop was brutal.
I still think this train won't stop until NQ1! breaks 15k or next monthlies expiration day, doesn't mean I am going to go long.
Closing (IRA): ARKK July 16th 92 Short Put... for a .33/contract debit.
Comments: In for 1.94 (See Post Below), out here for .33; 1.61 ($161) profit per contract. I considered rolling out to August, but the 30-day isn't nearly as sexy as it was.
Let's watch ARKK closely! 👀ARKK is following the same movement seen on several tech stocks today: A possible double top in the 30min, indicating a brief exhaustion, but this is expected.
The 119.15 is the pivot we must see broken as soon as possible. This will lead to a greater upside movement in larger timeframes.
The red line is not going to be an easy foe for ARKK, as it seems the market remembers this price level pretty well. Yes, we also have a small divergence on the RSI, which could make ARKK fall a little tomorrow, but this wasn’t confirmed yet.
On the other hand, if ARKK breaks the resistances mentioned, the 130 is our next stop!
Let’s wait for more confirmation on ARKK!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
ARKK Bearish PatternAMEX:ARKK
Top 3 Holdings
9%~ NASDAQ:TSLA
6%~ NYSE:TDOC
5%~ NASDAQ:ROKU
Going for the retest of the longer-term bearish pattern
ARKK Bottom Head and ShouldersThis bullish signal indicates that the stock price may rise from the close of $118.33 to the range of $131.00 - $135.00. The pattern formed over 30 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
$ARKK Regains all Moving Averages!Looks like $ARKK may be ready for a nice move higher. As you may know ARKK invests in high beta stocks so it can and does move quickly. I show it broke out of a Darvas Box a couple days ago. Today it reclaimed the 200 SMA and all the shorter term moving averages are pointing up and are just under price. This should (TBD) help lift this ETF higher. You can see my entry and stop on the chart. Ideas, not investing / trading advice.
