$ARKK Analysis

AMEX:ARKK   ARK Innovation ETF
As mentioned above in last weeks post I was expecting a reversal off of $93, and while the bounce did happen out of my projected buy zone, it was met with relentless selling pressure once reaching the $98 level. Price is still in an overall downtrend, but as we approach the key $80 level I am certainly watching for a bounce out of the demand zone depicted in the chart. If $80 is lost, there is no telling where the selling may end, thus it is the only support level I have noted for this week. $ARKK needs to reclaim $90 for any bullish action to ensue. 

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