Come Monday going to look at a position in XBI (if it has not gone too far). Pulled back and spiked at the Weekly 50% Retracement that matches with prior price action. Stop needs to be just below the low of May 11th.
The industry for this ETF is Biotech. This should make Cathie Wood happy.
I've been receiving some inquiries if now is a good time to invest in Cathie's ARK Invest with the recent drop?
Here's the technical analysis perspective. It's not suggesting any upside yet...
Here is the weekly chart for ARKW, the ARK Next Gen Internet ETF
counting from inception, ARKW has completed a massive wave 3 followed by a deep wave 4 correction which means it'll have an equally powerful wave 5. Taking the equal legs target or wave 1 results in a 5th wave that does not cross the ATH, which means a true wave 5 should replicate the entire length...
DISCLAIMER
This is in no way, shape or form, fluid and function, an analytical, qualitative or intelligent compte rendu. There is absolutely no financial advice here because the only financial advice I can give is to research, research, and research. The purpose of this analysis is to serve as an example of an investigation into a company's background,...
TICKER CODE: ARKQ
Company Name: ARK ETF TR AUTONOMOUS TECHNOLOGY & ROBOTICS ETF
Industry: Markets US Stocks Miscellaneous Investment Trusts/Mutual Fund
Position Proposed: BUY
Entry: NOT READY (63.50 - 65.50)
1st Partial Take Profit: 140.00 (Mid 2022)
2nd Partial Take Profit: Hold Positions till further advised
Note that timeline buffered, I would expect Full...
ARKK seems to be in a massive falling wedge on the daily.
If it can clear 109.60 (21EMA) resistance, I see this running to 116.25 which just so happens to be the 50EMA, 38.2 fib, and the old trend-line support from July 2020.
Clearing this resistance area will break the downtrend and could possibly send this to the 128-130 zone by next month.
If ~116.25 can not...
TICKER CODE: ARKG
Company Name: ARK Genomic Revolution ETF
Industry: Financial | Exchange Traded Fund | USA
Position Proposed: SELL
Technical Analysis
1. Falling Wedge Pattern (Potentially forming)
2. Large Head & Shoulders (Completed)
3. Fibonacci Retracement at 0.786 is CLOSE BUT NOT AT key market structure
4. Fibonacci Expansion Safe Take Profit Level 1...
DISCLAIMER
This is in no way, shape or form, fluid and function, an analytical, qualitative or intelligent compte rendu. I am obviously not rich, so obviously I haven't made it with my own thinking, so definitely don't put faith in me. But maybe read and learn some things about a company's stock history and trend analysis with a subset of buyer and seller...
If this stays in the triangle pattern it should take out these targets at breakout ! Long term upper targets go in excess of 1500%! Always use risk management when following anybody's charts!
Cathy likes to hit the BUY BUY BUY button. flood money into positions.
Does she like to hit the SELL SELL SELL button too?
What do floods do? They flood in AND flood out.
