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ImportantImports
Mar 27, 2021 2:23 PM

Strong Support for Cathie Wood's $ARKK (and $TSLA?) Long

ARK Innovation ETFArca

Description

A trend line drawn from the pre-pandemic crash high in early 2020 to the current price point gives us a trend line that has acted as support as many as 10 times since July 2020 without failure. This would suggest we are currently sitting on a strong floor and should bounce higher from here. That would be quite bullish for ARKK and probably its largest holdings, TSLA SQ TDOC and ROKU.
Comments
dtingbudong
Probably at least a small bounce. Inverse Cup & Handle?
jdgpro
@dtingbudong, Every disruptive tech chart looks exactly the same with that inverse H&S.
ImportantImports
@jdgpro, I don't see an inverse H&S
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