Like many people, I've lost $$$ falling in love with Cathie Cathie has literally destroyed my portfolio. Does shares bought at $150-$130 are now worth a quarter of that. What is going on with ARKK and are we going to see more lows?
News: All ARKK ETF’s continue to underperform relative to the S&P 500 is growing and Teladoc Health, one of ARK Innovation ETF’s most overweight positions, just collapsed in value last week. Unlike Bill Ackman who dumped his funds $1.1 billion investment in NFLX and taking a loss of around $400 million, Madam Cathie is adding more to her position.
Charts: EMA ( Exponential Moving Average ): Price action is below the 200 EMA (discount buying opportunity) Price is also below 20/50/100/200 EMA and are all pointing downwards! Looks like we've been in a death cross since November 2021 and we're not coming out of it anytime soon.
TTM Squeeze: Squeezing to the bottom but it looks like it wants to change direction at the current support line (super trendline; at the bottom of the pattern).
Fib Levels: with the price below the 1 fib and headed towards the 1.618, if the current support support line doesn't hold, we could see ARKK in the 30s...(bye bye to my 44K leap call option expiring in December).
Candle Stick: Summary of last 5 candles equate to a bearish movement; you might as well just call them a 3 black crow.
RSI: In a great position which also supports the TTM Squeeze movement... No matter what happens on May 3rd or 4th, I should just buy some more at this point.
Pattern: Falling Wedge and still falling; Need a savior.
History: ARKK seems to have lost it's hedge and it's now crashing and burning; a breakthrough will be nice.