Ark Investments ETF's ARKQ ARKK ARKW ARKF ARKG all seen a steep increase in trajectory after the March 2020 market dip from the pandemic panic.
Here is a chart of ARK-K ETF with before and after Trendlines in Yellow... Notice the Steep increase in trajectory after March 2020...
These ETFs are Tech and Innovation heavy and we know tech has seen a boost since...
Price has not been able to close below the 20ema since early April. It has tested it 4 times; today is the 4th test.
Taking into account the measured move from the past times we tested the 20ema, it should take around 7 trading days to get to the sell-target.
Happy & successful trading,
Stocks are mixed with indicies and ETFs crossing the trend line to denote a change in the bull trap trend the market has signaled lately. Selling volume has also increased at a higher pace than compared to buying volume we were seeing during the recent upward trend further indicating a down ward trend is likely.
Although the charts showing bearish narrowing wedges in the price action and RSI, we saw a breakout in an upward direction. To identify the strength of the breakout, we look to the volume and see that it has quite low buying volume indicating this upward trend does not have much steam and will reverse course down ward soon.
Price Rebounce at EMA20 after Retrace to FIBO 0.618
FT Bullish Candle - Bullish candle formation
Significant Volume - Shows strength of the bull
Oversold - Buying interest improve
Force Index turned +ve
Strong BUY for swing trade
ARKW had a great run in 2017, with over 100% growth. Let's hope it can do half of that for 2018.
This is my attempt to ride the trend of this ETF. I am projecting 45% @ 66.98 by Nov Sell off.
It's a basic Buy and Hold strategy. Right now we are at 46.07, I am looking to add position and hold for the year.
Trailing Stop will be used throughout the year, and a...