-This is a Medium-term chart based on support and resistance levels and Elliot wave theory.
-Ark has recently broken out of the long-term resistance, which now can act as a support.
-This along with Fib support and the long-term trend line mean Ark is most likely to bounce to AT LEAST the 1.0 fib line, where the target is located.
-In the longer term (you can see on the 12-Hr chart) I can see it moving to the $6 area at the 1.618 fib line. If the 0.786 fib line breaks look to exit the trade. Good luck.
Check out Excavo's chart for further analysis. He sparked me to do this analysis.
-Ark has recently broken out of the long-term resistance, which now can act as a support.
-This along with Fib support and the long-term trend line mean Ark is most likely to bounce to AT LEAST the 1.0 fib line, where the target is located.
-In the longer term (you can see on the 12-Hr chart) I can see it moving to the $6 area at the 1.618 fib line. If the 0.786 fib line breaks look to exit the trade. Good luck.
Check out Excavo's chart for further analysis. He sparked me to do this analysis.
