ARKK Innovation ETF - Potential Break Out

BATS:ARKK   ARK Innovation ETF
ARKK Innovation ETF

I have been in since $45.87 with a small position.

ARKK is typically offered with leverage so if you do take a position keep it whimsical and margin high. For me this is a long term, very small position play but we could have a break out here, so i thought i would share.

The chart speaks for itself, price has just raised its head above the high volume traded levels and may be breaking out of a head and shoulders pattern whose target matches the 1.618 fib ext and some prior resistance. A trade structure is here to be played and as always we have a KEY protective stop loss area.

Stops can be placed from $44 - 47 depending on your risk tolerance.

Main Concern: Volume had been descending on the longer term, however, short bursts still have provided a trade opportunity.



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