ARKK ARK Innovation: 1D Chart Review

Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for ARK Innovation ETF (ARKK).

The chart is self-explanatory. The price is currently in a Descending Parallel Channel with the RSI oversold so there may be a short term upward price movement, however the overall trend is still down. I put in multiple support lines to keep an eye on. If price moves back up, expect the areas I noted as major resistance areas.

Included in the chart: Trend line, Support and Resistance Lines, Volume, RSI, MFI ( Money Flow Index), Descending Parallel Channel.

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! #cryptopickk

Comment:

ARKK is touching my danger zone line. Be careful. Not financial advice.