This is an important week for ARKK and Cathie Wood. Following pre-market doom and capitulation we are seeing a bounce to the long-term support level. Hoping this can resume and break above 111 and maintain support above the 200 EMA. A close below 96 would indicate a further drop.
ARK Space Exploration List of Holdings, source of information benzinga.com:
Trimble (NASDAQ: TRMB): a company that provides GPS, laser and optical technologies that power industries like agriculture, architecture, engineering and construction.
The 3D Printing ETF (BATS: PRNT): an ETF from Ark Funds that invests in some of the largest names in the 3D printing...
As we can see, we had a huge Sell-off for a few weeks and today the move to the downside was massive!
Palantir is signing more and more contracts, while the price is falling, which would mean that the only reason for the fall is the over-all bearish sentiment in the market.
We can see the enourmous divergence that we have on the RSI on the 4hr...
ARKG looking a little overextended, finally cooling off a bit at the top. It might retract to it's 50 MA on the daily. It bounced today off it's November break-out anchored VWAP while volume continues to be higher than normal. There's a gap below the 50MA that could get filled if we drop lower.
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I am going to divide the analysis into 4 parts, so we can go deeper into the trading idea!
- The price completed the Cup and Handle pattern on the 1H chart and went from 34$ to 44$ and even higher.
- SPCE broke through the Daily Triangle shown on the chart with enormous volume and the next target is 50$.
NYSE:SKLZ is a newly merged SPAC which build paid tournament (or gambling) experience into casual online games. And ARK Invest, most specifically AMEX:ARKW , has just newly bought in their shares on Jan 4th and has added another 200K shares just yesterday. From a pure technical standpoint I am not surprised it would breakout from its all-time high of 23.87 on...
As you are no doubt aware, Splunk posted disappointing earning and is up against stiff competition in it’s primary revenue. However, this is a technical analysis to highlight a couple of point aon why I’m watching this stock.
Look at the gap! When considering the data from November onwards, we see a huge gap up last month and a huge gap down just last...