ARK Worth investing into this long-term Bullish DivergenceThe ARK Innovation ETF (ARKK) has been holding the 33.30 Support since the October 10 1W candle. As shown on this 1W time-frame, this is the Support that was formed on the March 16 2020 low during the COVID crash.
Perhaps the most important development here is that, while the price has been on Lower Lows since June 13, the 1W RSI has been on Higher Lows, flashing a huge Bullish Divergence. Holding the 30.30 Support is a strong signal that the market may have bottomed and a strong rebound is about to begin.
The first Resistance is the 1W MA50 (blue trend-line) and the Q1 target for us is the 1D MA200 (orange trend-line), which had the last major rejection on ARK (March 28). It is interesting to observe how strong Resistance (and Support) levels the Fibonacci lines have formed during this 2 year correction, especially in the upper bands. They can be used as targets later on after the 1W MA50 and MA200 break.
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ARKK trade ideas
I wasn't bearish enough on $ARKK, going to $22 before bouncingARKK is complete garbage with many of the stocks in the ETF now breaking to fresh lows. I originally thought we'd bottom in the $45 range (you can see how that panned out in the previous analysis below), but it turns out I wasn't bearish enough. Now, I think we're likely to see a capitulation move down to $22 before it starts to recover.
If we look at the chart, ARKK broke through it's final support and now the only thing that can hold it up is the minor support at $35 that's already been tested multiple times. Because of that, the support is weak, and if it breaks that support, there's nothing keeping it from freefalling down to $22. ~50% drop from here? I think so.
If you're already long in this, set a stop under $35 to prevent yourself from losing a lot of money quickly.
ARKK Continues to SinkTSLA lost support and it's the second biggest ARKK holding. I told you months ago that this crap fund would underperform the market because she's trying to catch the proverbial falling knife on garbage stocks. While the market rotates into money making stocks, she's buying money losing garbage:
finance.yahoo.com
Worse yet, the few stocks she owns that actually make money (TSLA, ZM, SQ) are underperforming as well. Before you buy this garbage, look at their holdings:
ark-funds.com
No idea why people keep interviewing her, she's just a bubble stock chaser with no idea how to trade a bear market. She's just praying for a Fed pivot, lol.
No position, though I have been doing some short term trading in SARK recently.
Arkk is the tip of the spear to monitor growth names #arkkFollowing ARKK to see when the selling in the bear market will end and hope to pick out from the carcass. Earnings expectations have come down on many names but the broad market as measured by sp500 is still expecting growth for the forward years. If we do get recession, the Earnings forward expectations may have to change. ARKK IWF SNAP PLTR BTCUSD SPY DIA
ARKK: looking more buoyant, but could take on water againOpinions aside about ARKK, despite being a toxic mess (sorry, I could not avoid an opinion), the only thing that matters is 39.79 (RED) . Prices have failed to get back above it convincingly, and unless they do, gravity will take hold. Neutral for now, awaiting what the market decides to do, but our edge is knowing the price level from which to decide.
ARKK sinking ship alertCathie's PoS fund can't rally because it's all money losing garbage stocks aside from TSLA. Rising rates will probably bankrupt half the companies in her portfolio.
If this breaks support it's all over for Ponzi Woods. The only reason why a lot o those stocks went up is because Cathie bought a shitload. She's just another Bill Hwang.
No position, just love laughing at Cathie. Whatever you do, don;' buy this fund without doing due diligence. Look at the holdings.
#ARKK reversing off anchored VWAP & 50dmaARKK still stuck in range of this bearish channel since bottoming in May. If you follow the anchored vwap from the recent high of the most recent rally, we are also starting to reject this Vwap. Additionally the 50dma is acting as resistance. Big resistance evident at $46
I think this will work itself lower and possibly retest the big horizontal support zone at $32-$33 in the coming weeks...
Closed (Margin): ARKK November 18th 29/50 Short Strangle... for an .83 debit.
Comments: Filled this for a 1.33 credit. (See Post Below). Out today for a .50 ($50) profit.
ARKK daily bullish hammer at monthly buying zone supportOrder BUY ARKK ARCA Stop 36.41 LMT 36.41 will be automatically canceled at 20230401 01:00:00 EST
ARKK daily bullish hammer at monthly buying zone support
ARKK : The Innovation Fund. SELLCathie just published her Open letter for Fed. If a bottom stock picker tracks macro and starts advising the Central Bank about what to do, you know something is wrong in Paradise.
Technically speaking, the price chart has forming a H&S. Ten out of last 11 months have beeen negative months.It has grossly underperformed all the possible indices .
Fundamentally speaking the FAANGs & MAMAA's of the world are still grossly overvalued in the interest rate stabilising world, note it that I never said rising, because as one of the factors of production, the price of money should never have been negative.
Can you fathom a negative Salary for your monthly efforts ??
My Target for this overhyped overblown Fund is $29.30.
ARKK Lower LowARKK has officially put in a lower low, and hourly candle volume is decreasing. The trend is unlikely to change and ARKK longs are now invalidated.
$ARKK D $ARKK D , wedging and the r:r ratio on this setup is good
stop on 37 break and initial target is almost 1:6
measured move about 1:13.5 on ~14pt move
ARKK UpdateMarket up big, but ARKK is flat because Cathie decided to chase TSLA, lol. TSLA down 7% today.
You can't make money in a bear market by chasing stocks, I told everyone not to buy this ETF because that is what Cathie does.
A monkey could do a better job of picking stocks, buying a random stock would be better than buying this ETF. Stay away.
(No position, just saying Cathie is a moron.)
A clean base on a choppy nameHey all, I know ARKK is being anchored down by TSLA's drop today, but that doesn't excuse the base this name has made; I think it presents an interesting long opportunity, though I wouldn't play it with large size as I feel upside is limited; I'm just going across the board & posting all of the bases I'm noticing forming right now.
Opened (Margin): ARKK November 18th 29/50 Short Strangle... for a 1.33 credit.
Comments: (Late Post; Filled on Friday). High IVR/IV at 62.9/68.6%.
ARKK - My Third WarningHello friends, today you can review the technical analysis idea on a 1W linear scale chart for ARK Innovation ETF (ARKK).
The chart is self-explanatory. I have been providing warnings since December 2021 so I hope you followed along. Included in this chart is the Keltner Channel, recent Death Cross (50 SMA / 200 SMA), RSI, Volume. This is a weekly chart so have patience. There are two support and resistance areas noted with price ranges.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics
ARKK key level Rejection between here and $40 would be resistance on the 9/21 daily EMA cloud and would translate as a strong potential to go below 37.
ARK will not survive 2022All my predictions about ARK invest in the past trading year were and are correct..!
If you look at the average weekly Volume Price it is now 30-40 times higher than the same price range in July 2020,
this will lead to full crash mode..!
SQ earning in the next 2 weeks will push it outside the channel and accelerate the down move!
You can see the most important support(green line) and resistance (red line) levels.
Best,
Moshkelgosha
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ARKK BottomPotential ARKK Bottom at either the Diagonal (at right now) or the Horizontal Level just below. I would not guarantee it to bounce off either but is worth a look.
ARKKBear flag/channel breaking down. Looking for a test of the May low. Would be surprised if it holds.
See the Forest for the Trees - general note to myselfAs per the title - this is just a note to myself, maybe to try and see the forest for the trees
Just picked out a few charts which maybe give some clues as to the wider state of the markets;
S&P stocks above the 50 day - have hit that 85-90 level, on a weekly basis they only seem to hold this level for 1-2 weeks before a sharp move down to 75 if not lower
US 10year - Rising Rate Environment continues to put pressure on stocks
NDX Futures - At the top of downward channel, breakout above channel failed, look set for a retest of 11,500 area (200 DMA)
ARK - In clear Downtrend, upward corrective move finished, looking set for another Impulse move down
Other factors which may be significant - Geopolitical tensions (Ukraine / Taiwan), Covid lockdowns in China affecting Supply chains, China property bubble
Jackson hole / VIX & VXN levels / Earnings Strength
