Juliac

ARKF - Time to accumulate (bullish divergence)

Long
AMEX:ARKF   ARK Fintech Innovation ETF
ARKF was trending strong away from it's 50 day Moving Average until the market rout last week brought it back down. A very bullish pin bar has formed last Tues after testing the 50 day MA and also the 50% fib retracement level @ 52.60.

Add to this, a bullish divergence is now apparent between Price and RSI . Overall the chart is still looking healthy (supported by a rising 50 day MA). Time for those sitting on the sidelines to dip their toes in especially when it has since traded lower after forming the pin bar (but not breaching stop loss level which should be several ticks below the pin bar's low (52.60). Always protect any profits with trailing stops.

Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)