ARKK trade ideas
Arkk Innovation ETF - Disruption is the key.The markets correction is providing an opportunity for entry an amazing ETF.
the cross point is around 88.50, with strong resistance support at around 84.50-81 levels.
With Battery Day looming, a potential rebound may occur (Tesla)
Not to forget Nikola is battered with the resignation of Trevor, leaving few rivals to compete in the markets.
For those whom one some positioning in Tesla but want to diversify and not to take huge position, this is a great alternative
as the fund manager keeps a position on Tesla at around 10%.
point of entry for consideration between 86-88
Target Price based on 2 Nov
Low TP - 95
High TP - 113
Bullish on ARKK ascending triangle patternI love my triangles, and got the 12/18 $110 call options for ARKK based on several indicators / patterns here.
RSI / MACD flipping, price sound support and higher lows from channel bottom trend line, and the beautiful ascending triangle.
ARKK's biggest holdings are TSLA and SQ which are not showing any signs of slowing down going into the end of the year.
ARKK high buying pressureAfter hitting its final long long term support line, ARKK has finally bounced off the support. The buying pressure was so strong that it reclaimed its previous support at the 87.75 level. The RSI tells the same story. Expect a continued uptrend, until it hits the top of the channel, At which point we will either see the price breakout or fall back to the floor.
Also, Watch for the RSI to hit either trendline to get an idea of which way the price is headed. In the past, the RSI hitting a support level has been bullish for the ETF. When the RSI has the the long term resistance line, it has always been bearish in the short-medium term. The worst drop In Price, after the RSI hit resistance, was right below the March lows.
As for fundamentals, I like this etf because it has been a top performer, as far as ETFs go, for the past year. I also like this etf because it gives you good exposure to Tesla, without directly investing in the riskiness of Tesla. Even I admit TSLA could be trading at pretty high valuations, so it helps that this etfs invests in other “disruptive companies” such as Square (SQ).
ARKK - Watch The ChannelGreat momentum on ARKK and I want to build a long position. I'll be watching this channel to see if the top of the channel smacks it right back down and will scale in little by little as we hit the middle of the channel.
ARK Innovation ETF — $ARKK top holding by % $TSLAARKK
Top holding by weight percentage as of 02/03/2020
11.72% TESLA INC
Pulling away from a 2 year sideway range
Average Directional Index (ADX) bullish cross (weekly)
First target $64.70
ark-funds.com
Long
ARRK Innovation wins with strong trading, not technicalsThat indicates the trading of the fund has been superior. The concept of ARKK remains solid, however, investors should know that risk emanates also from trading skill of management. As the fund grows, trading for Wood will become harder. This is a satellite fund opporunity until the fund gets "too big." What is too big? Typically when the assets under management get to be about equal to the average net market cap of stocks traded. That is, if the average market cap of stocks owned is $10 billion, then the fund can likely trade effectively until it has around $10 billion under management. This rule is not firm, it is fudgey, but generally about right.
ARKK - Trend UPAMEX:ARKK Indicators show a Stochastic Overbought Reversal (sell) for the coming 2 days,
But a stable upward trend for the long term (bullish) for the Intermediate timeframe.
Disclaimer: i'm not a pro, this is not investment advice. Do not make investment decisions based off my Internet comments or ideas.
DT TEST 1I will be running a series of tests that will enable me to determine the probability of success of specific strategies. I will even test strategies that I feel may not work. My goal is to test various patterns that many think are profitable. I will then apply the results to my own trading.
ARKK watch ARKK over the next week. a break below $44.98 would be bearish and could reach a low of $38.30.
