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Erictaylor
Jun 22, 2022 2:54 PM

Arkk  Short

ARK Innovation ETFArca

Description

I had aRKK drawn out. In a rising channel or a bear flag where when we broke it around $42 we saw a pretty strong move down, but the buyers did Step in Ripping us back up to potentially retest this to $42 area. If aKK does reject here again. This could be nothing but a backtest of a previous pattern support flipping to resistance for a further drop down. This is something that I’ll be watching closely as if we do start to see a strong rejection in that area, SARK would most likely be doing the opposite flipping a previous resistance into new support. Watch a RKK & SARK which is the inverse for any bullish or bearish looks to decide on trend direction probablity.
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