ARKK, TIME TO BUY?Hello fellow traders and investors, here's another trade idea.
ARKK has recently been pulling on back along with the overall Nasdaq and has found a support at the trendline, I think this trade is a great opportunity since ARKK's performance lags the overall Nasdaq recovery. If ARKK makes a recovery to the take profit area it offers around a 25 to 30% ROI.
Technicals:
The Macd indicates that it's oversold and in an uptrend
The Volume shows signs of exhaustion of bearish volume so I'm thinking we will see some bullish volume in the next few days.
When To Buy:
Now or when it breaks through the key level.
When To Sell:
I recommend selling in the take profit area.
Fundamentals: Arkk is an innovation ETF created by Ark invest. ARKK focuses on doing the investing for you. Their fund owns shares in many companies including TSLA, TDOC, SQ, ROKU, Z, ZM, BIDU, SHOP, SPOT, EXAS and many more. If you believe that those companies will grow well then the ETF will also grow.
Rating: 95/100 the technicals are very good and so is their business model and I think this is a great trade opportunity.
NOTE: I might buy some shares.
I hope you enjoyed this quick analysis and many more to come.
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Thanks.
