It looks like wave 2 has not completed yet. If we get a bounce and rejection off of the DTL and PoC line, and break the support around 82, we could see a completion of wave 2 around 75-76 followed by wave 3 to 110+
ARKG just broke the long term parallel channel, i expect it to close down to 78 if it does not hold above the parallel channel or we will see it shoot to 91 in near term. Given the macro environment which market seems to be bullish (I think the money will rotate back into Cathie's ETF.
I think with the macro environment, there will be a small correction to arkg which represent more buying opportunity. First timer here, please comment
But will not be surprised to see it touch $78 near-term. Shouldn't stay there long. Note Williams %R below -80
ARKG target 105.72 by Aug 13th. Day MACD steadily up, 9 and 20 day moving average steadily up cross 100 day average indicate accumulate upward price. Lets target $105 by 2-13 Aug.
Heading into the week ARKG is on my radar for a play either side... If it breaks the hi of friday(green line), we can fly and if it breaks the low of friday(red line) we can dump. I am really excited to see what happens with this.
... for a .23/contract credit. Comments: Put on when the expiry-specific implied was at 56% (See Post Below), it's crushed in here to 38.8%, so I got movement away from the short put strike + volatility crush. No sense in hanging out another 36 days for the remainder of the extrinsic. In for 1.74; out for .23; 1.51 ($151) profit/contract.
Idea: $ARKG Possible Phase C with Spring and Test of support Entry would on the break above 84. 05 or on the retest of support with risk at 72, moving stoploss to break even on the test of upper range. Now for the ask: I've been studying Wyckoff for some time now, but have not been able to check my work with others. Any fellow Wyckoffians that would be willing to...
I was looking forward to today, this week, on whether we will be rejected by the downward cross resistance line or not and we got rejected. This is not good because twice rejected and twice got support confirms the narrowing wedge formation (thick blue lines converging) I draw the path I expect this etf to follow. I am in since 9 months on this ETF and my cost...
TICKER CODE: ARKG Company Name: ARK Genomic Revolution ETF Industry: Financial | Exchange Traded Fund | USA Position Proposed: SELL Technical Analysis 1. Falling Wedge Pattern (Potentially forming) 2. Large Head & Shoulders (Completed) 3. Fibonacci Retracement at 0.786 is CLOSE BUT NOT AT key market structure 4. Fibonacci Expansion Safe Take Profit Level 1...