In the chart you can see a schoolbook Head And Shoulders Bearish Chart Pattern.
Theory says that you measure the distance from the neckline to the top and then consider the same distance to discover the bottom from the neckline down.
In this case it coincides with the strong 40usd support!
ARK also sold its positions in TCEHY Tencent Holdings Limited.
I`m looking forward to read your opinion about it!
good luck on that one. Tencent is unlikely to break below the trendline of weekly 200 EMA. It's never done it in the history of the stock and the probability of it breaking below that are slim. Tencent is a tremendous company. It's the largest company in china. I don't think the chinese will slaughter their most valuable company that much. It will deter any foreign investments which harms their future. I think this was just a minor lesson they are trying to teach big tech to show who's in control of china. Cathy did sell but Charlie Munger and Dalio are buying and they have been in the game way longer than cathy. They are true legends in the investment world whose withstood the test of time. That's just my opinion and of course I can be totally wrong.