ARKK is complete garbage with many of the stocks in the ETF now breaking to fresh lows. I originally thought we'd bottom in the $45 range (you can see how that panned out in the previous analysis below), but it turns out I wasn't bearish enough. Now, I think we're likely to see a capitulation move down to $22 before it starts to recover.
If we look at the chart,...
Many people seem to be interested in going long $Arkk because it's already fallen substantially. However, the chart tells me there could be continued downside to come over the next 2-3 months.
I lean towards the bottom not being until we hit $60.02-45.92, and my bias leans towards the middle to lower support being hit before seeing a trend reversal.
Stay safe out there.
Short $ARKK $84.42. Appears to heavy sell off. Downtrend will continue in my opinion. $ARKK walking on very fine line of support. Any further sell off below $85 area is not good for the $ARKK. Trading below all major moving averages. MACD turned negative recently. Current support level $85 area. If broken below then expect short target 1 is $73 area in coming...
An interesting ETF I will certainly be keeping my eyes on
ark-funds.com
ark-funds.com
AMEX:ARKK
BCBA:ARKK
BVL:ARKK
FINRA:ARKK_SHORT_VOLUME
FTX:ARKKUSD
UPBIT:ARKKRW
LSE:SARK
LSE:ARK3
LSE:ARKS
LSE:3ARK
LSE:1ARK
BITTREX:ARKKUSDT
LSE:ARKA
CAPITALCOM:ARKK
I got a bit of criticism over not being clear enough in my previous chart. So i have created specifically a Nasdaq index chart which will show my thinking more clearly.
The Nasdaq index back at the start of 2000 was the bull market to end bull markets. The innovation of using the internet was a technological revolution and no one saw an end to the bull...
