First Analysis - Looking for constructive criticism.
Hello,
I am a beginner investor learning about technical analysis through youtube and other free resources. I am using this chart and analysis to put my understandings to the test. Please let me know what you think and share where I can improve.
Analysis: ARKG is trending bullish both long and medium-term and is close to a buy signal as the last closing price was just inside the lower Bollinger band and the RSI was trending to oversold before leveling out around 37. Using Fibb Retracement starting with the low on 12/21 to the 12/23 high, the support level at 38% and the current price are almost in lockstep at $103.25 and $103.10 respectively. If the price breaks down through the 5-day trend line the next level of support is around $99.57 but it appears the overall short-term trend is up and I look for the ETF to bounce off the 5-day trend line to once again push for higher highs.
I am a beginner investor learning about technical analysis through youtube and other free resources. I am using this chart and analysis to put my understandings to the test. Please let me know what you think and share where I can improve.
Analysis: ARKG is trending bullish both long and medium-term and is close to a buy signal as the last closing price was just inside the lower Bollinger band and the RSI was trending to oversold before leveling out around 37. Using Fibb Retracement starting with the low on 12/21 to the 12/23 high, the support level at 38% and the current price are almost in lockstep at $103.25 and $103.10 respectively. If the price breaks down through the 5-day trend line the next level of support is around $99.57 but it appears the overall short-term trend is up and I look for the ETF to bounce off the 5-day trend line to once again push for higher highs.